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5/8/2010
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Noblesville, IN
US
The latest issue of the Kipplinger newsletter includes a tax case where the father of an amateur deducted $160,000 in motocross expenses over a 2 year period as business related expenses.
"The Tax Court said that most of the $160,000 was a deductible business expense because the firm obtained new business connections, favorable construction financing deals and other similar benefits from its sponsorship."
Something to consider.
"The Tax Court said that most of the $160,000 was a deductible business expense because the firm obtained new business connections, favorable construction financing deals and other similar benefits from its sponsorship."
Something to consider.
If you put it in your marketing line, you can say that buying the dirt bike/equipment, putting your name on the side of it and taking it to racing events that are filled with locals that use the services your company provides then you can argue that the expenses were necessary to generate sales leads and develop brand recognition.
The Shop
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