Charitable Contributions.
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?
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?
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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