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Posted by oprah.chopra on April 25, 2008, 3:52 pm
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Can I deduct my $25 campaign contribution from my sole-proprietor
business? My guess is no, because it is not a business expense?
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Posted by Haskel LaPort on April 25, 2008, 4:29 pm
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> Can I deduct my $25 campaign contribution from my sole-proprietor
> business? My guess is no, because it is not a business expense?
Political contributions are not deductible period.
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Posted by removeps-groups@yahoo.com on April 25, 2008, 9:48 pm
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> Political contributions are not deductible period.
Even for lobbying organizations, whose major expense would (I imagine)
be political contributions? (Perhaps salaries, airline and meal
expenses, etc might be more, but who knows).
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<< The foregoing was not intended or written to be used, >>
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Posted by Stuart Bronstein on April 29, 2008, 5:43 pm
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>> Can I deduct my $25 campaign contribution from my sole-proprietor
>> business? My guess is no, because it is not a business expense?
>
> Political contributions are not deductible period.
But what it if's ordinary and necessary (say, like a bribe)?
Stu
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<< ------------------------------------------------------- >>
<< 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. >>
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Posted by Harlan Lunsford on April 29, 2008, 6:35 pm
Please log in for more thread options Stuart Bronstein wrote:
>
>>> Can I deduct my $25 campaign contribution from my sole-proprietor
>>> business? My guess is no, because it is not a business expense?
>> Political contributions are not deductible period.
>
> But what it if's ordinary and necessary (say, like a bribe)?
To be deductible, a business expense must be, as we all know,
ordinary and necessary. BUT not all such expenses are deductible.
Reminds me of a prospective franchisee up in Philadelphia we talked to
one time. he asked us for a list of officials who would be needing
payments in order to get his ice cream store up and running.
He was from the Bronx, and I guess he figured they did things in
Norristown just like they did them in Noo Yawk.
ChEAr$,
Harlan Lunsford, EA n LA
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<< The foregoing was not intended or written to be used, >>
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