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Started By
Message
Tax advice: Are purchases from NPOs tax deductible
Posted on 11/20/13 at 9:45 am
Posted on 11/20/13 at 9:45 am
Specifically for purchases made by businesses. TIA
Posted on 11/20/13 at 9:47 am to Guava Jelly
you want to deduct the cost of the shirt you bought at Goodwill, don't you?
Posted on 11/20/13 at 9:51 am to Pilot Tiger
I don't think I'd get much of a deduction from a $0.03 purchase.
I'm talking about ad purchases from a university student publication. Wondering if they're deductible. And if so, is there a cap/minimum amount.
I'm talking about ad purchases from a university student publication. Wondering if they're deductible. And if so, is there a cap/minimum amount.
This post was edited on 11/20/13 at 9:52 am
Posted on 11/20/13 at 9:55 am to Guava Jelly
I'm pretty sure you can deduct ad purchses regardless of whether you purchased it from an NPO or not.
I dont know about caps or minimums though
I dont know about caps or minimums though
Posted on 11/20/13 at 9:57 am to Pilot Tiger
Sweet. I need to talk the tax man.
Posted on 11/20/13 at 10:01 am to Guava Jelly
An expense is deductible if it is ordinary and necessary for a business. So deductibility is determined by what you purchased and for what purpose, not whom you purchased from. You purchased advertising space in a publication. Advertising is generally an ordinary and necessary business expense. So as long as the expense was not excessively large relative to the circulation of the publication, it should be deductible.
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