Cheesehead
July 29th, 2008, 08:52 AM
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?
Deduct a Donation?
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SteveWilliams
July 29th, 2008, 09:44 AM
CH
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. :D
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.
Steve :newb:
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. :D
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.
Steve :newb:
Boomers Supply
July 29th, 2008, 12:02 PM
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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