Volunteer in a local literacy program. Keep in mind that community leaders can be a good networking tool, especially if they feel your involvement is genuine. There are qualifications, however. You cannot deduct goods and materials if you originally bought them for your business and have already deducted them as a business expense. Although, as the company owner, you can't deduct the value of your own donated time, you can deduct the salaries of employees to whom you assign pro bono work.
Pagan cautions that tax laws often draw fine distinctions regarding deductibility.
For this reason, companies should consult a tax preparer to ascertain what for them is deductible and what is not. And as my father passed away from lung cancer when I was only 16, I decided to focus on this health-related issue as a way for me to give back to the community. Prior to her death, she dedicated her time and talents to increasing awareness of early cancer detection and prevention, as well as educational programs with the American Cancer Society. It agreed to run five full-page ads and a feature story both before and after the event. If you find a pro bono passion that's a natural blend, as I did, the synergies are incredible.