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March 22, 2020
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Charitable Contributions.

  • March 22, 2020
  • 1 reply
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I have a sole proprietorship and I am claiming the standard deduction for my personal taxes. Because of that I will not be able to deduct. Can I claim it as an expense for my business? If so, where would I record?

Best answer by AlanT222

You can only claim it as donation from your business if your business actually did the charitable giving.  You cannot move your personal giving to your business in order to get the standard deduction and part of your itemized deductions.  

1 reply

AlanT222Answer
March 22, 2020

You can only claim it as donation from your business if your business actually did the charitable giving.  You cannot move your personal giving to your business in order to get the standard deduction and part of your itemized deductions.  

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