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Thread: do u spend money on ur fosters? Reply to Thread
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Topic Review (Newest First)
01-12-2014 08:45 AM
Smithie86 You can only deduct expenses, donations and mileage ONLY if the rescue is a LEGAL 501c3.

If the rescue is NOT a 501c3, you are providing contributions.

Verify the legal status of the rescue (if you do anything with your taxes) on the IRS gov site.

There are many rescues that are not 501c3, or even have applied (so not in pending status and you can verify this) that state that they are a non-profit and ask for donations. This inference is incorrect.

I know a few people in our area that give a lot to rescues that have claimed the non-profit and when asked for the documents for the taxes so the people did not get audited, just said...."oh well".
01-12-2014 12:38 AM
LifeofRiley
Quote:
Originally Posted by Magwart View Post
Car mileage logs??!

I never thought of that. I've driven two hours (one way) to do a home check...many times. I am so glad you posted that!
Hi Magwart,

Glad my post was helpful!

For tax purposes, I recommend that you keep a log not just of the mileage numbers (i.e. do not submit a lump sum number w/o details)... provide the specific dates of each trip, the purpose of each trip (i.e. pick-up at intake, adoption event, transport, home visit, etc.) and the mileage for each of those trips. I also save any e-mails that pertain to those logged items.
01-11-2014 12:09 PM
Freestep All the foster carers I know spend TONS of money on their fosters. I always have. The expenses can be written off on taxes, and some expenses can be reimbursed if approved by the rescue, but often times the money comes right out of the fosters' pocket. I have a client who has some 25-odd fosters in their home at any given time, and they spend about $350 a month in grooming alone--I can't imagine what their total expenditures must be.
01-11-2014 10:16 AM
JeanKBBMMMAAN I am leaving this in chat because I think it's relate to cat rescue. If I am wrong please hit notify so I can put it in the right section.

If you think dog rescue is tough...no resources, high numbers, low adoption fees, disposable animal, etc.
01-11-2014 09:07 AM
Jax08 llombardo - last year they started allowing expenses incurred for a 501c3 to be written off as a volunteer activity so definitely save your receipts!
01-11-2014 02:58 AM
llombardo Hmmm interesting. I just got my first foster adopted out. They gave me food, but after a few days I just started feeding him what my dogs eat, I bought him a sweater, a jacket, a Xmas collar, a regular collar, an antler, and 4-5 Nyla bones,etc. I can write that stuff off?
01-11-2014 12:05 AM
Magwart Car mileage logs??!

I never thought of that. I've driven two hours (one way) to do a home check...many times. I am so glad you posted that!
01-10-2014 11:59 PM
DJEtzel
Quote:
Originally Posted by LifeofRiley View Post
What? You can itemize those types of foster expenses as a charitable donation for tax purposes? I had no idea.

I typically cover all the costs of care for my foster dogs (food, treats, minor medical), not because I have to, but because I choose to... In fact, with one rescue I like to foster for, it is just a lot more convenient for me to take the foster dog to my vet for a minor issue vs. their vet that is in the suburbs. If it is a major medical issue, I will bring the dog to the vet that the rescue works with in the suburbs.

I never thought to keep a record of those types of expenses for tax purposes. I do, however, keep car mileage logs of the volunteer work I do for tax purposes.
Yep. I keep all receipts and turn into my accountant at the end of the year.
01-10-2014 11:54 PM
LifeofRiley What? You can itemize those types of foster expenses as a charitable donation for tax purposes? I had no idea.

I typically cover all the costs of care for my foster dogs (food, treats, minor medical), not because I have to, but because I choose to... In fact, with one rescue I like to foster for, it is just a lot more convenient for me to take the foster dog to my vet for a minor issue vs. their vet that is in the suburbs. If it is a major medical issue, I will bring the dog to the vet that the rescue works with in the suburbs.

I never thought to keep a record of those types of expenses for tax purposes. I do, however, keep car mileage logs of the volunteer work I do for tax purposes.
01-10-2014 10:59 PM
DJEtzel Yes, I don't pay taxes on their stuff, and can write all off that I do.

The rescue will give me food/supplies... I take supplies as necessary, but I can't feed them Meijer/purina/kibblesnbits food... So they get whatever my dogs are on. I spend a lot, but it's my donation to the rescue/animals, after all.
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