Charitable Contributions Definition
December 14, 2015Mike Kappel
Charitable contributions are donations made to nonprofit organizations. Donations can be money, noncash items, in kind, or volunteer hours. The contribution may be tax deductible per IRS regulations.
Small businesses can benefit from making charitable contributions. In addition to helping your community, there can be tax deductions, improved employee morale, free publicity, and increased customer loyalty.
Bookkeeping Tips and More for Charitable Donations