{"id":12366,"date":"2011-09-14T14:17:39","date_gmt":"2011-09-14T18:17:39","guid":{"rendered":"https:\/\/www.certitrek.com\/nebb\/when-a-business-makes-a-charitable-contribution\/"},"modified":"2022-12-29T02:19:06","modified_gmt":"2022-12-29T07:19:06","slug":"when-a-business-makes-a-charitable-contribution","status":"publish","type":"post","link":"https:\/\/www.certitrek.com\/nebbinstitute\/blog\/when-a-business-makes-a-charitable-contribution\/","title":{"rendered":"When a Business Makes a Charitable Contribution"},"content":{"rendered":"<div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-1 fusion-flex-container nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start\" style=\"max-width:1144px;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-0 fusion_builder_column_1_1 1_1 fusion-flex-column\" style=\"--awb-bg-size:cover;--awb-width-large:100%;--awb-margin-top-large:0px;--awb-spacing-right-large:1.92%;--awb-margin-bottom-large:0px;--awb-spacing-left-large:1.92%;--awb-width-medium:100%;--awb-spacing-right-medium:1.92%;--awb-spacing-left-medium:1.92%;--awb-width-small:100%;--awb-spacing-right-small:1.92%;--awb-spacing-left-small:1.92%;\"><div class=\"fusion-column-wrapper fusion-flex-justify-content-flex-start fusion-content-layout-column\"><div class=\"fusion-text fusion-text-1\"><p>When it comes to a charitable donation, a business is afforded the same opportunity as an individual \u2013 to take a tax deduction for it. Generally, an individual\u2019s donations will be in the form of everyday items \u2013 used clothing, old toys, outdated furniture, and so forth. But a business\u2019s charitable donations are a little different from an individual\u2019s. A business can make three types of charitable contribution: services, cash, or property.<\/p>\n<ul>\n<li>If a company donates its services to a charity, the company is not entitled to a deduction for those services, but is allowed to deduct non-reimbursed expenses incurred in rendering them.<\/li>\n<li>If a company contributes cash, it may deduct a contribution that is up to 50% of its adjusted gross income.<\/li>\n<li>If a company contributes appreciated property (a property that has experienced an increase in value), it is entitled to deduct the value of that property for that tax year.<\/li>\n<\/ul>\n<p>Of course, since defensible documentation of the donated property\u2019s value is required by the IRS, an <a href=\"http:\/\/nebbinstitute.org\/\">appraisal<\/a> of that property is necessary. A <a href=\"http:\/\/nebbinstitute.org\/\">Certified Machinery and Equipment Appraiser<\/a> (CMEA) is best qualified to perform such an appraisal.<\/p>\n<p><em>The <a href=\"http:\/\/www.nebbinstitute.org\/\" target=\"_blank\" rel=\"noopener\">NEBB Institute<\/a> endorses and strives to observe the highest standards of professional ethics to preserve the public trust inherent in the professional appraisal practice. The Institute provides initial and monthly comprehensive education, ongoing support, and a dynamic international network, and certifies professionals in the art of machinery\/equipment appraisal and brokerage.<\/em><\/p>\n<p>By: <a href=\"https:\/\/www.certitrek.com\/nebb\/\" target=\"_blank\" rel=\"noopener\">NEBB Institute<\/a><\/p>\n<\/div><\/div><\/div><\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>When it comes to a charitable donation, a business is afforded the same opportunity as an individual &#8211; to take a tax deduction for it. Generally, an individual\u2019s donations will be in the form of everyday items \u2013 used clothing, old toys, outdated furniture, and so forth. But a business\u2019s charitable donations are a little [&#8230;]<\/p>\n","protected":false},"author":12,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[192,193,194,41,195,196],"class_list":["post-12366","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-appreciated-property","tag-cash","tag-charitable-donation","tag-cmea","tag-services","tag-tax-deduction"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v19.4 (Yoast SEO v19.13) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>When a Business Makes a Charitable Contribution<\/title>\n<meta name=\"description\" content=\"A business can make three types of charitable contribution: services, cash, or property. If a company contributes cash, it may deduct a contribution that is up to 50% of its adjusted gross income.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.certitrek.com\/nebbinstitute\/blog\/when-a-business-makes-a-charitable-contribution\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"When a Business Makes a Charitable Contribution\" \/>\n<meta property=\"og:description\" content=\"A business can make three types of charitable contribution: services, cash, or property. 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