Promotional costs that create business goodwill for example, sponsoring a little league team are also deductible as long as there is a clear connection between the sponsorship and your business.
Now of course the Olympic sponsorship is a huge business.
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But the broad picture is similar everywhere: women underestimate the importance of sponsorship and fail to cultivate business relationships effectively.
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The concept of game day jersey sponsorship is not new to the business of U.S. professional sports leagues.
While the NBA has recognized the importance of philanthropy to its business model, its sponsorship partners have also followed suit.
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Kris Rone , the Dodgers' executive vice president of business operations, doubled sponsorship and marketing revenue in four years, the amount of time she's been with the team.
We also like the idea that no one at all has written a business book using a corporate sponsorship model.
The Reebok title sponsorship is the latest addition to a growing business.
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The trick is to build a whole marketing strategy around the sponsorship - and that can become an expensive business as Greg Daniel, chief executive of Marketing Strategists "Issues and Images" explains.
Whatever your business, you can probably justify a team sponsorship as an advertising expense.
My brother was the only student who made it without his parents' business cards, with no one's sponsorship, and with no one's introduction.
Other owners certainly utilize F1 success to promote non-racing business interests, but most still rely on major title sponsorship deals to fund their annual race budgets.
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Under the financial fair play rules, which come into force this summer but do not take full effect until 2013, teams will not be able to spend more than the income they generate from the football side of their business - which includes gate receipts, TV deals and sponsorship.
They also represent the quickest and most effective route to pressuring target companies to suspend their business operations in these countries until such time as state-sponsorship of terrorism there is ceased.
"It (the sponsorship) is going to comply with the rules and regulations wherever we do business, " he said.
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The club's transformation into a modern business over a decade ago is well set, as membership, sponsorship and branded clothing lines drive revenue with good reason.
Kwesi Nyantakyi, the 39-year-old president of the Ghana Football Association (GFA), believes the country is reaping the dividends of a professional approach through the implementation of a five-year business plan, which has attracted massive injection of cash through corporate sponsorship from kit sponsor Puma and mining, banking, brewery and telecommunication firms.
More immediately, business figures to pick up from improved attendance and more in-stadium sponsorship revenue.
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APB's long-term business plan calls for making money on ads (the site recently sold its first sponsorship), spinoffs and partnerships such as the content deal with the Snap portal site.
Because CIE handles every aspect of the business--booking and promoting talent, producing shows, selling tickets, handling sponsorship and advertising at the venues, even running the food concessions--it makes money at many junctures.
Because it handles virtually every aspect of the business--booking and promoting talent, producing shows, selling tickets, handling sponsorship and advertising at the venues, even running the food and beverage concessions--CIE makes money at many junctures.
Besides each of the leagues holding informative meetings and committee breakout sessions, the Bob Freitas Business Seminar allowed Minor League Baseball to tackle issues pertaining to topics such as promotions, sponsorship, social media, effective community engagement, media relations, and utilizing minor league ball parks as multi-purpose facilities.
"Looking out at the horizon, teams are looking at their local sponsorship deals expiring over the next two or three years, " says industry consultant David Carter of the Sports Business Group.
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