I have a Schedule C client, a performer, who put together an event for the benefit of a charitable organization. The arrangement is to give a percentage of the profit to the charity and the client gets a small percentage of the profit.
So, all income and expenses are going through his business. All ticket sales are in client’s business name, not the name of the charity.
So, is there any way you can think of to count only the client’s portion for SE tax? Or does he have to count it all and take a separate personal contribution deduction?
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So, all income and expenses are going through his business. All ticket sales are in client’s business name, not the name of the charity.
So, is there any way you can think of to count only the client’s portion for SE tax? Or does he have to count it all and take a separate personal contribution deduction?
.
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