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Merlo, Accountant
Category: Tax
Satisfied Customers: 9783
Experience:  25+ years tax consulting. Specializing in returns for US citizens living abroad
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I own my own business. My husband and I have helped our son

Resolved Question:

I own my own business. My husband and I have helped our son who drag races by purchasing parts and other items he needs for racing. Can this be used as a tax deduction as sponsoring him?
Submitted: 8 years ago.
Category: Tax
Expert:  Merlo replied 8 years ago.



If the race car that your son drives and the racing apparel that he wears, bears the name of your company, then you may be able to deduct a portion of these expenses as advertising costs.


However, absent that requirement, the items would not be deductible.


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