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Is it legal for business to give money to charity for a tax deduction and have the charity then give the money to a for profit business?
Wiki User
∙ 16y ago
As long as the charity is actually paying for services or products received there is nothing illegal going on with this.
Wiki User
∙ 16y ago
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In the US, (you appear to have an British flavor to your Q), contributions to a qualified charity are always deductible. When done for a business, I wpuld suggest that it woyuld be a promotional/advertising expense, even if not to a qualified charity...which of course is also a deductible business expense.
If a Cosigner pays all of the the Home Equity Loan monthly payments does the Primary Signatory then get to claim the tax deduction on the interest paid or does the Cosignatory get such tax deduction?
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