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| FREE NEWS ALERTS A free, comprehensive news service to keep small businesses and independent contractors posted on the latest tax developments affecting their operations.
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Tuesday, Dec. 27 Expenses - Charitable Contributions, #112Contributions made to charitable organizations technically do not qualify as a business expense eligible for a federal tax deduction. Nevertheless, the IRS does allow most corporations – with the notable exception of S corporations – to deduct charitable contributions on their corporate income tax returns, subject to some limitations. Payments made to non-profit or charitable causes can be treated as business expenses only if there is some business benefit associated with the payment, such… Subscribers have free access to the archives. Click here. |
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