Mounted search and rescue

[MSAR Una Smith <msar@ibiblio.org>]

----- Forwarded -----

From: Irvin Lichtenstein  <ilichten1@verizon.net>
Date: Fri, 12 Mar 2010 01:10:54 -0500
Subject: RE: [MSAR] Taxes

If your MSAR has been determined to be an exempt organization under IRS Code
501c3 or has applied for this determination members can deduct all costs
associated with training, travel to missions, vet bills, personal protective
equipment, insurance, and a myriad of other expenses.  

 

To survive an IRS audit you must have records of the specific expenses or
how you apportioned the cost. This means start and stop trip mileage,
receipts for meals and hotels for you, training time logs versus play time. 

It also requires that your MSAR group be organized enough to apply for a
letter of determination from the IRS.  And must file some form of the 990
information return each year, if only the 990NR-- an electronic statement
that you don't need to file.

 

Being able to deduct a new saddle, or several hundred dollars in horse
insurance premiums can lighten the load for your members and, in some
states, state and local taxes may be reduced, credited, or waived for
volunteers. Both PA and MD have such programs if you can qualify. 

 

April 15th comes soon. 

 

Irv Lichtenstein