Do you need another excuse to foster a homeless pet? Love the idea of fostering but fear the potential costs? How about a tax deduction?
You read that correctly. Some of the expenses of fostering a pet for an adoption organization can be deducted as services rendered to a qualified 501(c)(3) organization. Things like pet food and supplies, veterinary bills, and even the paper towels you may need to clean up after your foster-furball can qualify as expenses for fostering a pet. If your foster operation is large enough you may be able to claim a portion of your home utilities as well. You can even deduct 14 cents per mile for trips made solely for the organization.
To read more on this story, click here: Considering Your Taxes? Don’t Forget Your Foster Pets
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