Are there any tax accountants? is there any chance of Writing off our cpu time donated to SETI?

[PlatinumGold]

Just a thought. i wouldn't recommend this for everyone, but i own a small business, all the computers i have running seti belong to me. i pay for the T-1 connection so i'm wondering if i can write any of this off?

 

[EvilWobbles]

I doubt it, but it is certainly worth a try.

 

[PlatinumGold]

if it works, seems like a good thing to add in pitch when trying to get your boss to approve use of office computers for seti.

 

[networkman]

I guess it would depend on how much CPU time was donated; earlier this year I purchased 22.4 K of work units on eBay for about $610.00, so for numbers sake(using that auction as a basis), you could try establishing that each unit was worth about $0.027 each.

FWIW, I didn't try to claim my SETI production on my taxes.

 

[MoFunk]

I just talked to my tax lady here at work and was basically told that this would be a neat trick writing off Seti. I am unsure if the Fed would like that too much. You may have more solid ground if you were to do this with say the cancer research one, but Seti? I don't think that searching for aliens can be considered a charitable contribution. If you could somehow pull that off though, kudos to you my friend!

 

[MaxSiren]

Well I for one consider donating to a non-profit scientific endeavour very much a charitable donation!!

However, the value of WUs bought at auction messes things up. As I've stated before, by paying any money for WU completion credit, especially at auction, establishes that this credit has inherent worth. As a result, this credit becomes a commodity, and therefor there is no charitable act because you're getting something (other than tax credit) back.

Sorry NWM, I don't mean to offend, but that precedent really skews all definitions. Ignoring that one precedent, I think the only thing that could be used towards tax credit is the "supplementary cost" of running Seti@Home, which by design is very little indeed.

 

[JustStarting]

If you have a legitmate small business and use you computers for it- ie. bookkeeping, printing, payroll and the like, sure you can write them off. I don't understand why you would need to bring Seti into the mix of things? You would already write off electricity and a portion of your mortgage- if running out of home, off on your taxes.

 

[RaySun2Be]

Read this IRS publication Charitable Contributions

1. They have to be a qualified no-profit or charitable organization. (IRS Publication 78 has a list of current qualified organizations)
2. The value of your time or services isn't deductible
3. personal expenses aren't deductible

Extremely gray area here, I would be surprised if it was allowed. I for one probably wouldn't risk the chance of it getting flagged for an audit. Charitable contributions is one of those areas that can get flagged.

And as JustStarting said, if you are already using those PCs for your business, you should be deducting expenses for those already.

Disclaimer: I am not an accountant, the previous statements are my opinion only, and should not be construed as IRS policy or procedures. it is advised that you seek IRS or accountant help with any and all questions regarding federal, state, and city taxes. if audited, I will NOT appear on your behalf. Proceed at your own risk. No warranty expressed or implied.