December 31 is the last day to make tax-deductible donations to IRS-approved charities for 2020. Individuals this year can take a limited deduction for cash donations even if they don’t itemize other personal deductions. Remember that cash donations made by partnerships, LLCs, and S corporations are passed through to owners who claim their share on their personal returns. #Ideaoftheday
Barbara Weltman
Big Ideas for Small Business, Inc.
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Financial Literacy: What Owners and Employees Need to Know - #smallbusiness #finances #bookkeeping #accounting