Oshkosh, Wis. - December 15, 2004 - Tax time is nearly upon us, and EAA has some valuable information for Young Eagles volunteers on potential tax-deductible expenses incurred while participating in the program. The Experimental Aircraft Association is an educational and philanthropic organization under Section 501(c)(3) of the Internal Revenue Code. Consequently, EAA members and others who incur out-of-pocket expenses in connection with volunteer services performed by them on behalf of EAA, may be entitled to deduct all or part of those expenses as a charitable contribution on their personal income tax returns.
EAA's tax-exempt status as a 501(c)(3) organization means the IRS will allow volunteers who help the program to deduct out-of-pocket expenses actually incurred that are in direct connection with, and solely attributed to, the EAA Young Eagles program.
If the above conditions are met, volunteers can deduct direct, out-of-pocket expenses such as:
- Fuel and oil directly consumed by the aircraft in the demonstration flight, not to exceed 200 miles
- Fuel and oil to another airport within 50 miles to meet a young person
- Transportation, not to exceed 30 miles one way, to get to and from the airport
- The rental charges for a bus or van to bring a group of young people to the airport
- The rental expense of an airplane used only for the program
- Postage for mailing the registration records to EAA's Oshkosh Young Eagles office
- Extra liability insurance purchased solely for flights for the program
- Landing tie down fees at a non-home based airport
- Aeronautical education materials
- Meals for the young person (but not the volunteer)
- Film and developing charges for pictures of Young Eagles
- Indirect expenses, such as hangar fees and annuals, are not considered "out-of-pocket" and are therefore ineligible.
To compute the expense of transporting the volunteer and/or young person to and from the airport in a passenger automobile, a standard mileage rate can be used in lieu of operating expenses.
The Experimental Aircraft Association is an educational and philanthropic organization under Section 501(c)(3) of the Internal Revenue Code. Consequently, EAA members and others who incur out-of-pocket expenses in connection with volunteer services performed by them on behalf of EAA, may be entitled to deduct all or part of those expenses as a charitable contribution on their personal income tax returns.
Please consult your tax professional for specific guidance.
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