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July 29th, 2008, 07:52 AM #1Deduct a Donation?
I use music from incompetech.com for background for videos. It is free but they encourage donations, as many services do. So I gave a small donation. Can I claim this as an expense when doing taxes?This World is Not My Home
We're gonna go inside, we're gonna go outside, inside and outside. . . And then we're gonna go go go and we're not gonna stop til we get across that goalline! Quotes from the movie Rudy, 1993
July 29th, 2008, 08:44 AM #2
Can I write Off A Hobby Donation ?....
- Join Date
- January 19th, 2008
- Wilmer, Texas 75172
As long as it is to a 501(c), yes. though there are exceptions, this includes the red cross, churches, Homeless Out Reach, max factor ~ Oh wait a minute, he's not a 501(c), he's just in prison.
United way, Volunteers Of America, campaign funds, political activities some times.
a guy with a hobby is not likely to fall into this category unless you can show that 80% of the object in question is is used in your biz. Often some thing are allowed a prorated deduction based on the usage %. But that's a royal pain in the ass. Billy K got it right when he decided to have 2 cars. The IRS is a punk.
Hope this helps.
Last edited by Steve Williams; July 29th, 2008 at 08:48 AM. Reason: Texas Spelling Spree....DreamLinux.net | Registered Linux User 453976 | PM me to view our sites. It's a Google thing.
July 29th, 2008, 11:02 AM #3
If you file your return as a business and your videos are for the purpose of creating income through your business, then yes, this would be a business expense.
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