Sponsor A Local Little League Team And Write It Off
Posted by admin on Jul 15, 2008
Did you know that many of the costs of advertising your business are tax deductible? There are hundreds of ways to advertise of course, so does that mean that you can deduct just about anything and get the tax benefit from it?
Be careful here. In order for something to be considered a tax write off towards your business income, it must be directly related or benefiting to your business. So, if that little league team comes in wanting you to sponsor them, consider it. If they will allow you to add your business name to their jerseys go for it because this is considered a method of advertising and therefore is fully deductible.
There are many other situations in which this same scenario can play out. The key is to make sure that the cost is directly related to your business in some manner.