Can an actor donate his acting services to a non-profit and receive a receipt reflecting their usual rate of pay for their time? Example, Sam Actor performs for a non-profit for 2-hours. His usual rate of pay is $500/hour. That means he would have normally been paid $1,000. The non-profit gives him a receipt that says he donated his services and the value was $1,000. It's a great theory, but is it a legitimate deduction?
Unfortunately, the value of time or service is not tax-deductible, but any expenses that incur due to the pro bono work that are directly related to the charity are tax-deductible.