Can we write off time contributed to a nonprofit organization?

[Mairof]

My client received a letter from the non profit organization saying that he could write off his time equal to $10,000. From what we have read we are not able to deduct time spent on volunteering services. Can someone tell me if this is still the case or if there are certain changes and or exemptions for this type of donation? This is for TY20

[IRonMaN]

The nonprofit really needs to stop doing silly stuff like that.  Your time is worthless in the eyes of the IRS when it comes to donating it to a nonprofit.

[qbteachmt · Accepted solution]

This is a common misunderstanding.

You need to understand Perspective. The service provider and the organization = 2.

The organization is supposed to acknowledge the value of professional services provided, as they can use this for proof of Support. Example: You do their taxes and would normally charge $800. It's the same as if someone donated $800 and then they hire you to do the taxes for that $800.

That is donation Value for the organization. That is not a Write off for you, unless you also Write ON the $800 as income. You would invoice them to show them your value, and credit back or discount that 100%, for your own business records. Now they have proof of support.

Someone should educate that organization so that they learn to State This Properly, and they learn to request what they need for their records without confusing everyone else with false guidance.

[dascpa]

If yes, then my time is now worth $100,000,000 per hour.  

Time is never worth a penny to the IRS.

[Mairof]

thank you for your response; this has helped me understand. I appreciate you sharing your knowledge and expertise. 

[qbteachmt]

Glad to help.

Tracking this sort of thing is really important when it comes to matching grants.