Charity auction portrait donations and taxes

[Garth Herrick]

I am interested in the ways artists can use donated portrait services to their advantage at tax time. I have donated to two high-end charity auctions last year, as well as two others this year. However, although the fair market value of my donations this past year were significant, I see they have very little effect on my taxes. There is good publicity and exposure, and possibly other commissions from this, but for tax purposes it seems like a waste of time and resources. For these months of effort, if I had stayed with only paying commissions, I would have come out in better financial health.

Does anyone have thoughts and experiences to the best ways to utilize donated art when reporting of taxes?

Thanks.