Is Charitable Contributions Allowed on Schedule C ?
Can You Deduct Charitable Contributions on Schedule C Business? is one of the most often asked question by people involved in sole proprietorship business .The answer is short “NO” , but as is the case with most tax clauses, there is a good chance that contribution to a charitable organization can not be outright rejected by the Internal Revenue Service that usually not allow such expenditure from profit out of self employment businesses, provided you prove that it was made for business purpose.
What is Schedule C ?
Under Internal Revenue Code, a business owner can deduct all the expenses that was incurred for earning business income. Now from that perspective , you will have to see the issue of allowance of charitable contribution . For example , say you are a having a flower shop in the localityÂ if you spend $100 to buy an ad in the program organized by the church , you can deduct that expense on Schedule C explaining the expenditure as a necessary expense for your business.
Plain and simple charitable donation is not allowed on Schedule C. You can read more on this from irs guide