Tax Write Off

Business By youngj Updated 13 Oct 2017 , 9:46pm by -K8memphis

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youngj Posted 11 Oct 2017 , 2:49am
post #1 of 7

I was asked to donate cupcakes, she said that she would give me a tax write off form. Problem is I do this on the side and do not claim my "cake income" .  Questions are do I donate these cupcakes? because it is going to be a good amount of out of pocket cost to me. Can I do this and use it as a tax write off even though I don't claim my cake income?

 

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-K8memphis Cake Central Cake Decorator Profile
-K8memphis Posted 11 Oct 2017 , 9:12pm
post #2 of 7

no you can't and besides i think you have to give more than you own to beat the automatic deductions they give anyway -- like for homeowner anyway -- 

do it if you want to bless this organization -- don't do it just because they asked -- 

find the charity that makes your heart beat faster and give where You want -- you decide where you give -- you decide how much you give --

thanks for having such a sweet giving heart 


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kakeladi Posted 11 Oct 2017 , 10:34pm
post #3 of 7

Yeah what K8 said.  Just keep in mind usually once you give to one organization there will be 10 more begging for donations.   As was said, the tax write off will do you no good......and might raise a red flag if you try to use it when not claiming your income from cakes.  This could mean you get slapped w/back taxes unpaid........and the interest is out of this world!   [Don't ask me how I know :( ]

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youngj Posted 13 Oct 2017 , 4:04pm
post #4 of 7

Thanks you! 

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youngj Posted 13 Oct 2017 , 4:04pm
post #5 of 7

Thanks you! 

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youngj Posted 13 Oct 2017 , 4:04pm
post #6 of 7

Thanks you! 

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-K8memphis Posted 13 Oct 2017 , 9:46pm
post #7 of 7

you're welcome blush

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