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    Uncle Billy's Avatar
    Uncle Billy Posts: 1, Reputation: 1
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    #1

    Jun 24, 2007, 12:09 PM
    Tax Advantages for small businesses donating to a 501C3 charity?


    What tax advantages are gained by an individual or small business making a donation to a 501C3 non-profit organization?
    Thanks
    Ken
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #2

    Jun 24, 2007, 12:37 PM
    And beyond tax advantages, it helps the non profit groups, it provides medical care, clothing, housing, and food for the sick, the elderly, the poor.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
     
    #3

    Jun 25, 2007, 10:35 AM
    Ken:

    The tax advantages is that you can deduct your donation on your taxes, but ONLY IF you itemize.

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