Gordon anticipates that being positively perceived by the individual who is elected mayor will be beneficial...

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Gordon anticipates that being positively perceived by the individual who is elected mayor will be beneficial...

Gordon anticipates that being positively perceived by the individual who is elected mayor will be beneficial for his business. Therefore, he contributes to the campaigns of both the Democratic and Republican candidates. The Republican candidate is elected mayor.

Can Gordon deduct any of the political contributions he made?
.

d claiming tax credits.

business accounting

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Answer 1

Answer #1

No. Gordon cannot deduct any of the political contributions.

Reason- Donation at political campaign is not allowed as deduction but to charitable donation deduction is allowed.Donation to churches,temples, non-profit organisations etc. is allowable.But any political contributions are not deductible.

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Gordon anticipates that being positively perceived by the individual who is elected mayor will be beneficial...

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