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gsc6808
New Member

As a small business can I write or deduct anything if I sponsor a local athlete? Examples Reg Fees, Clothing? So long as they were advertising for my business?

One of the athletes that trains at my facility has qualified for a national tournament.  The athlete is short on $$ for his registration fees is it possible for my business to sponsor him by paying for any or all of event if said athlete is to wear items that advertise for my business?

1 Reply
MichaelL1
Level 15

As a small business can I write or deduct anything if I sponsor a local athlete? Examples Reg Fees, Clothing? So long as they were advertising for my business?

Yes, you would deduct this as an advertising expense.  

You may deduct expenses for advertising your business. It's important to note that these must be ordinary and reasonable expenses for advertising.

https://www.thebalance.com/what-business-advertising-expenses-are-deductible-398945

Below is from IRS web site:  https://www.irs.gov/publications/p535/ch11.html

Advertising expenses.   You generally can deduct reasonable advertising expenses that are directly related to your business activities. 

  You can usually deduct as a business expense the cost of institutional or goodwill advertising to keep your name before the public if it relates to business you reasonably expect to gain in the future. For example, the cost of advertising that encourages people to contribute to the Red Cross, to buy U.S. Savings Bonds, or to participate in similar causes is usually deductible.
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