Donations to Charity

Mike Miller Accounting, TAX TIPS

Many businesses donate to charitable/non-profit organizations throughout the year, so they can write off the contributions on their taxes. It’s a wonderful way to support causes and organizations you care about, and have a tax deduction. But, if not done properly on the correct tax forms, that money won’t get deducted. The requirements are different depending on if you are donating as an individual, sole-proprietor, or corporation. So, make sure your accountant is helping you with proper documentation. For a small business, every tax deduction helps and every dollar counts.

Here is a link to the IRS about the requirements to deduct gifts to charity on your taxes…https://www.irs.gov/newsroom/gifts-to-charity-six-facts-about-written-acknowledgements

If you have any questions, feel free to email or call us anytimeĀ (602) 265-5276.

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