No, you cannot deduct the value of time or services to a charitable organization.
You could get paid for a job, and turn around and give the money back, but that wouldn't be wise. The donation has to go on your personal tax return, and the income would be on the business return. You would end up paying self-employment tax (15.3% on it). Your best alternative is to do the work for charity and have the benefit of knowing that you did something good.
You can't deduct the value of your time or services, including:
- Blood donations to the American Red Cross or to blood banks, and
- The value of income lost while you work as an unpaid volunteer for a qualified organization.
See the top of page 8 IRS Publication 526
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