Major life milestones often have a major tax impact. Changes in your marital status, having a baby or adopting a child can have significant impact on your taxes. This is the place to ask questions about dependents, real estate, and other various scenarios that play a significant role in what taxes you pay.
02-23-2018 12:21 PM
Last year there was a church-sponsored event in which I, as the volunteer tasked with this mission, would foot the bill but would get reimbursed after ticket sales. There was a loss of $5000, which paid for speakers' and musicians' stipend, transportation, hotel and meals, the renting of music equipment and lights, decorations, and transportation. Can this be considered a donation? Can it be considered an out-of-pocket expense?