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Barbara Weltman

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Reminder on Year-end Charitable Giving

December 24, 2020 / By Barbara Weltman

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

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Small business ideas, business tax news and small business consulting from Barbara Weltman to provide business owners with the information they need to succeed. Visit our small business blog, Idea of The Day®, small business books and articles on small business taxes, small business finance and small business legal advice.

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