Month: September 2021

September 25, 2021

Small Business Guide to Charitable Giving and Tax Deductions

For gifts of property or equipment, the deduction depends on how much you donate. For example, if you donate clothing to a homeless shelter, you receive a deduction for fair market value, rather than the new value of those clothes. If you give cash or property to a charitable organization that exceeds a $250 value, you’ll want the organization to recognize your gift in writing. […]