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I am curious, out of ignorance, if business many expenses are deductible anyway, what would be the fundamental difference between calling it a Marketing/Adverti
by rileymat2 2y ago
I am curious, out of ignorance, if business many expenses are deductible anyway, what would be the fundamental difference between calling it a Marketing/Advertising expense to buy community good will compared with a charitable deduction?
- doctorpangloss 2y agoThe IRS doesn’t like businesses that only lose money, also known as hobbies. That’s why you can’t say you are a musician and expense your $700 Fender pedals.
- philipwhiuk 2y agohuh I thought they were called startups ;)
- j33zusjuice 2y agoI don’t know the answer, but I think it depends on how the money gets appropriated. You can’t buy a TV spot and call it good will, but could you setup a food drive in a large target city and you setup a bunch of fun shit for families and kids, and during which you also promoted your business. Can a corp write that off? Seems like the answer would be yes, but maybe not.