If you ever plow through the IRS tax laws the way we do, you’ll come across some mighty strange rules.
EXAMPLE: Let’s say you participate in a skeet shoot for your favorite charity. What can you deduct for tax purposes? Interestingly, the deductions you get for participating in the charity skeet shoot beat both the regular business entertainment tax deduction and the charitable contribution deduction.
How does this work, and how can you get the drop on the IRS? You’ll get the answers in my new article titled Tax Tips: Tax Deductions for Shotgun and Partying at Charity Skeet Shoot.
Three ways our fact-filled article can help you:
- We’ll tell you how you can claim a 100% deduction. You can have a ball at your shooting party, and have fun afterwards by deducting 100% of your food, drink, parking, transportation, the cost of entering the shoot, and more. You’ll get all the facts when you read the full article.
- We’ll explain how business giving can beat charitable giving. You’ll learn how your business can give the same amount of money to a charity but produce tax-deduction results superior to a pure charitable contribution. Learn more when you read the full article.
- We’ll tell you how to handle your chart of accounts. In your chart of accounts, it’s not enough to keep track of “business entertainment.” In fact, you should break entertainment down into two distinct categories. We’ll tell you what they are when you read the full article.