How to Deduct the Value of Services Rendered to a Non-Profit Organization

The majority of non-profit organizations survive by receiving tax deductible cash and property donations. Many non-profits also survive by having professionals “donate” their time and/or services. However, this type of donation, while benefiting the non-profit, is not tax deductible by the individual or business.

Internal Revenue Service guidelines strictly prohibit deducting the value of services rendered. Why is this? Because while everyone’s time is valuable, there is no standard in determining what that time is worth.

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Tags: business by JTames
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Guest Blogger: The Cheese Doesn’t Stand Alone

So my friend Joseph Tames is not only a fellow photographer and good friend, but also happens to be my accountant. Being able to pick his brain has really enlightened me as to best practices for my business. But me being me, I’ve asked more of him. I hoped he could occasionally write an article with tips for small business owners, who only hire an accountant on a limited basis, as well as prospective small businesses who want to start off on the right foot.

Joe will be posting an article very soon, so stay tuned!

Tags: business by PShizzy
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