Originally Posted by Tondo
I have a chocolate business and was thinking about boat sails for advertising. Would this be more of a racing sponsorship?
I think the real question is "If I put the name of the business on the sails, can I write the boat off?". Interesting question! As an example the Goodyear Blimps are not very cost efficient, but are advertising,
If you write it off could you help it if no one saw your advertising? Sounds like fodder for a tax attorney, or someone you can throw under the bus- just in case.
PS Should the IRS sends you away, let me know I will sail your boat to keep it in good shape.