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Are sponsorships tax deductible

1176 Views 3 Replies 4 Participants Last post by  binki
I will be offering sponsorships soon to individual athletes beyond free merchandise. For those of you that currently do this, will I be able to deduct any of this as advertising cost?
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I would only accept a response to this from a competent accountant. But maybe it could be seen as advertising
I sponsor teams with my name on their jerseys. It is advertising.
All costs with running your business should be recognized. There is no such thing as a tax deduction. You have income and expenses. This would be advertising expense.
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