Political Advocacy

Lobbying Expenditures
Lobbying expenditures refer to the amounts paid or incurred in connection with influencing federal or state legislation, or any communication with certain federal executive branch officials in an attempt to influence their official actions or positions. These expenditures are not tax deductible.
Political Action Committee (PAC)
A Political Action Committee (PAC) is a separate and segregated fund established by an organization for making political contributions. These funds were authorized by the Federal Election Campaign Act of 1971 and clarified through subsequent court decisions.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.