I can deduct that?? Woof! Fostering a pet is tax deductible! …just in case knowing you are saving little furry lives isn’t enough.
If you were a rescue foster family this year, be sure to write off your foster dog or cat expenses. The expenses have to be directly related and solely attributable to the rendition of services to a qualified 501(c)(3) organization. You can deduct unreimbursed out-of-pocket spending on things like:
- food
- medicine
- veterinary bills
- crates
- leashes, collars, tags, and harnesses
- gas for mileage driven (for charitable purposes, you can deduct 14 cents per mile)
- a portion of your utilities (as long as a a specific area of your home is only used for the care of the animals and nothing else)
- cleaning supplies, even the paper towels you use to clean up after your foster while house training (we buy them along with Lysol Wipes by the case around here….) are deductible.
*While you CAN deduct expenses you incur while volunteering, you CANNOT deduct the time you spend volunteering. Trust me, the experience is reward enough.
So, if you foster a cat or dog for an animal-related 501(c)(3) organization, document all of your expenses. If audited, you will need to provide a list of itemized receipts. Save any and all receipts, and, if your unreimbursed expenses add up to over $250 for the year, obtain written acknowledgement from the charitable organization that confirms your volunteer or foster status. The written acknowledgement must contain a description of the services provided, a statement of whether or not the organization provided any goods or services as reimbursement, a description and good faith estimate of the value of any goods or services provided as reimbursement and a statement that the only benefit you received was an intangible one (if no reimbursement was made). This must be obtained on or before the date you file your tax return for the year that you made the expenditure or the due date for filing your tax return for that year.
If you are not yet fostering…this is just one more reason to save some furry little lives in 2018. Check out the animal rescue groups in your local area. There are both breed specific and general rescues. Love Labs? Check out Nola Lab Rescue.
This is the amazing group that I currently foster with – we always need more fosters! http://www.takepawsrescue.org/foster-form
Fostering is not expensive. Take Paws Rescue covers the cost of all vetting, and can provide crates, food, anything you need really. Some groups ask that you provide your foster’s food and or crates, collars, leashes, harnesses, toys/treats.
Can’t foster? Your charitable donations to a 501c3 rescue organization like Take Paws Rescue in New Orleans are fully tax deductible and help save furry little lives.
