Giving to your church, school, or other 501(c)(3) charity is a noble act no matter how you choose to give. But for the purposes of tax savings, some forms of giving are much more beneficial to you than are others. As a business owner, you can use some business...
Tax planning to classify payments to charities as business expenses has been around for some time when lawmakers put limits on the charitable contributions and when 2017 tax reform (TCJA) almost doubled the standard deduction amounts. The planning history makes good...
The IRS Says . . .Revenue Ruling 70-393 states that the monies spent to outfit and support a sports team are similar to monies spent on other methods of advertising; accordingly, you may deduct them as business expenses for federal income tax purposes. ...
