By topic (Promotion)
Tax law favors and allows deductions for civic and public service clubs and even names some favored clubs. But tax law does not allow dues deductions for airline, hotel, country, golf, athletic, and business-meal clubs.
The critical point for making payments to charities and churches deductible business expenses is your reasonable expectation of financial return.
You always come out ahead when you can deduct your charity involvement as a business expense.
The business gift basket runs into the $25 limit on business gifts. If you want to deduct more than $25, you need to know the rules in this article that produce bigger deductions.
Making gifts to promote your business is complicated by time, inflation, and poor tax legislation. Make sure you know the rules so that you keep your tax deductions on your tax return.
The woman in this audit learned how knowledge can turn what appears as a nightmare (an IRS audit) into a positive happening—meaning cash refunds for the year of the audit and subsequent years. As the old sayings goes, “knowledge is power.”
To deduct a birthday party as a business expense, you must convincingly demonstrate a direct association with business activity.
With one exception, you may not deduct a facelift as a medical expense because you use your face for both business and personal purposes. As to deducting the facelift as a business expense, this has not worked out so far.
You probably should not try to deduct teeth whitening. The law generally disallows a teeth whitening–type of expense because it has both a personal and a business benefit.
Tracy Topping saved $251,462 in taxes when she proved that her horse activity was not a hobby, but a promotional tool for her business.
Business meals, like those consumed at Lions Club and Rotary meetings, ARE subject to the 50% rule. We have proof.
One couple coaches a girls’ softball team and puts up advertisements for their company. It is a good strategy that is good for business. We show them how to deduct coaching expenses like bats, balls, tees, and a pitching machine.
One couple coaches a girls’ softball team and puts up advertisements for their company. It is a good strategy that is good for business. We show them how to deduct coaching expenses like bats, balls, tees, and a pitching machine.
Revenue ruling 70-393 allows you to deduct the expenses of sponsoring a sports team.
Advertising your business on your vehicle does not change either your business or personal use of the car.
Rebates have become common. The tax treatment of a rebate by the salesperson depends on whether you write a check or receive a reduced commission and whether you do this rebate for charitable or promotional purposes.