Last year a neighbors house burned down and they lost everything. I offered to complete the design and construction drawing set for them for free to help them out. The drawing set provided is valued at $15,000. I am self-employed and this is what I do for work regularly. Can I write this off?
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Sorry, you cannot.
That was very kind and generous,, but gifts to individuals and families you know are not deductible. Sorry. Only donations made through organized and recognized charities can be deducted.
Sorry. You can't write off or deduct income you never received. You will just have less income to be taxed on. You can deduct your actual expenses like paper and ink, but not your time or labor.
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