I've spent considerable time in the last year building a portfolio for my business. This time was donated to clients, for my benefit, and theirs.
There is a large opportunity cost lost. I could work full time, hire contractors to do the work, then write off the fee for the contractors. If I started a second business with one employee (me), hired that company, I could write that off, right?
So, can I write off the opportunity loss, when I work for free?