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Income Tax Planning
Chapter 8: Other Deductions, Penalties, and Loss Disallowance/POLITICAL AND LOBBYING EXPENDITURES
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Chapter Study Session

Chapter 8: Other Deductions, Penalties, and Loss Disallowance

POLITICAL AND LOBBYING EXPENDITURES

01.Core Concepts

• General Rule: • No business or personal deduction is allowed for political contributions or lobbying. • Deductions are allowed for lobbying: • To monitor legislation, and • De minimis in-house expenses (limited to $2,000)  If greater than $2,000, none can be deducted.