It’s the season of giving, when many small-business owners make charitable donations through their companies. They’re attracted by the many rewards, both personal and financial, they can receive from philanthropy, as well as the opportunity to help their community. About 75 percent of small-business owners donate a portion of their profits annually — an average of about 6 percent — to charitable organizations.1
Ultimately, if done with thought and care, small-company owners who give to charities can reap business, financial and personal rewards, benefiting the community, employees and themselves.
1 Joshua DeLung, “How Small Businesses Can Get Tax Deductions for Charitable Giving,” US Small Business Association, 2016.
2 Caron Beesley. ”What Your Small Business Needs to Know About Charitable Giving This Holiday Season,” US Small Business Administration, 2012.
3 Terra Clarke Olsen, “Corporate Philanthropy: The ROI of Giving Back,” Salesforce, 2015.
5 Joshua DeLung, “How Small Businesses Can Get Tax Deductions for Charitable Giving,” US Small Business Association, 2016.
6 “How Long Should You Keep Business Records?,” Nolo, 2017.
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