I have a tax questions, for anyone who is a contractor or who is self-employed.?

Obviously, I have different things I need to deal with. Instead of a W-2, I would have a 1099, I think. What I'm wondering is if I volunteer/dontate my time, how will that fit in for my taxes? For example, let's say that I usually make between $15 - $25 an hour. I normally work 40 hours a week. However, I volunteer my services to a small business, because I'm friends with the owner, which comes to about 10 hours a week. I was just wondering if I can somehow use the fact that I volunteer profesional hours, or could I only do so, if I was volunteering for a non-profit. Hope this makes sense!

i am not trying to scam, or anything. i was just wondering if this was possible. shouldn't i be able to take advantage of every opportunity that is available to me? i wouldn't know, if i don't ask. i seriously doubt the irs will tell me about every single tax credit that i am eligible for, and unless i'm actually doing my taxes with them, tax places don't care to give advise, which is why i'm asking here!

ok i hope i can explain this correct... now if you donate things to goodwill you get a form for donations so if you donate your time to do something for some one and they give you a letter stating you donated time in the amount of say 2000 dollares you can claim it as donations does this help??i have enclosed a link that can give you some tips as well Deductions & Credits

You can volunteer for whoever you want to obviously, but you can't deduct the value of your time, even if your volunteering is for a registered charity. You still can't deduct any value for your time, although for a registered charity, you could deduct out of pocket expenses if you itemize.

"Them's the rules" - hey, I wish they were different, I'd have paid a lot less in taxes last year.

Unfortunately time donated is not deductible as a charitable expense. As far as your rebate is concerned, it will not affect it since the rebate amount you get depends on money earned during the year. Since you earn no money from your donated time, it does not matter. Basically think of it as a hobby that you do in your free time that IRS does not care about.

It sounds like you are trying to find a way to circumvent the system. You either work for free and don't get paid or work for pay and pay taxes on it. If you negotiate gifts from whomever you are supporsedly working for for free it is called gatting paid.