I've donated several items throughout the year from my self-employed business. Are these considered write-offs? Expenses? I purchased these items, so I'm out of pocket.
Throughout the year, I'm asked to donate items for fundraisers. I purchase the items outright and put together a package for them to sell at auctions, etc. Being that I'm out of pocket - albeit for a good cause - can I recoup the cost of these donations?
I've donated several items throughout the year from my self-employed business. Are these considered write-offs? Expenses? I purchased these items, so I'm out of pocket.
You can only claim donations for which you received a receipt.
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