Question for the Money Doctors
Question submitted on Dec 5, 2010.
QuestionHello, I volunteer for a non profit that is just beginning and we are trying to find out whether or not an owner of a building is able to write off the rent of the building since he is leasing it to a non-profit 501 c 3 organization? or what are the rules around this?
Thank you very much and we appreciate your help
If the business owner pays the non-profit rent, he/she is able to deduct it. As long as it is an ordinary and necessary business expense, the business owner can write off the rent paid.
For additional information visit http://www.360financialliteracy.org/