If i sponser a basketball team can i right off the purchase of there uniforms?

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If i sponser a basketball team can i right off the purchase of there uniforms?

2006-09-01 09:35:56 · 2 answers · asked by letmepla 1 in Business & Finance ➔ Taxes ➔ United States

2 answers

You may be able to call it an advertising expense. I suggest consulting a CPA.

2006-09-01 14:49:32 · answer #1 · answered by STEVEN F 7 · 0⤊ 0⤋

No! A basketball team is not a charitable organization recognized by the IRS. However, if you would donate the money through a "charitable org.", then, may be you could. There are legal ways, and "loop holes" that allow people to do strange things and write off certain expenses for tax purposes.

2006-09-01 17:53:53 · answer #2 · answered by 'stavo 2 · 0⤊ 0⤋