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Poker Runs tax deductible?

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Old 04-01-2018 | 01:40 PM
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Default Poker Runs tax deductible?

I was wondering if entry fees to a Poker Run such as say " Support the Troops" can be claimed as a charitable contribution and tax deductible? If so, how about related expenses like gas, room and board, meals, alcohol, etc?
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Old 04-01-2018 | 04:48 PM
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I would check with your CPA but I know everything I did with my boat was deducted because it was listed on my business properties.
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Old 04-05-2018 | 12:06 PM
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I always right mine off as charitable, which reminded me that I forgot to right off Thunderfest. I believe you can even right off the mileage. Not sure what Thunderfest went to but Boyne Thunder always goes to Camp Quality, which is for kids with cancer.
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Old 04-19-2018 | 11:53 PM
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The best way is to sponsor through your business and most poker runs will cover your entry fees. Then you can use it as a marketing expense. At least that's how we structure our sponsorships.
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Old 04-23-2018 | 10:03 PM
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Two issues I see..........

You are paying the organizer of the poker run who in turn donates the $$ from the organization to the charity.
You also have to deduct the fair market value value of anything you receive from any donation.
MWBP SOT is $250 and you get 2 breakfasts and 2 dinners and 2 Tshirts worth around a $100.

Fuel , hotel, meals, etc are only deductible if it is business expense.
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Old 04-24-2018 | 08:46 AM
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You would be correct if you were writing it off as a charitable donation. Since sponsorships get a ton of exposure in marketing most sponsors write it off as an advertising expense. You get on all the social media, tee shirts, websites, and banners.
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