FraudRecord Forums
General Discussions => Off-Topic => Topic started by: Aaron on June 12, 2014, 11:49:03 AM
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On the contribution page it says that contributions are not tax deductible. In the US, you can deduct the contributions as a marketing expense.
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Does this apply if the contributing company (you) are in US, while FraudRecord isn't a US-located legal entity?
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It doesn't matter where it's spent. When I file my taxes I just say I spent $x on marketing and deduct it. I can't speak for other country's tax systems but in the US it is definitely tax deductible. It's considered a business expense.
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I've changed it to read "These contributions may or may not be tax deductible depending on your company's location." It's now the member company's responsibility to know if they are deductible in their country. I also changed it from "deductable" to "deductible" :)
Also I see you have made a great contribution, thank you! It's people like you who encourage us to keep working on FraudRecord!
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Aaron is spot on. Even then if you did not wish to classify it as marketing, you certainly could pass it as an operating expense by signing up for a sponsored account.