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Subject Author Date
Are alma mater donationd business deductible? oprah.chopra 05-02-2008
Posted by oprah.chopra on May 2, 2008, 3:13 pm
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 I realize I can deduct from my personal income tax, however I want to
donate 2,000, which is less than my standard deduction. Can I deduct
from sole-proprietorship business?

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Posted by Phil Marti on May 2, 2008, 3:40 pm
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>I realize I can deduct from my personal income tax, however I want to
> donate 2,000, which is less than my standard deduction. Can I deduct
> from sole-proprietorship business?

No.

--
Phil Marti
Clarksburg, MD

--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>

Posted by D. Stussy on May 2, 2008, 8:36 pm
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> I realize I can deduct from my personal income tax, however I want to
> donate 2,000, which is less than my standard deduction. Can I deduct
> from sole-proprietorship business?

Yes, but it still goes on Schedule A, not Schedule C.

--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>

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