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Old 01-22-2007, 07:40 AM
Harlan Lunsford
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Default Re: Corporate Charitable Deductions

hasuhana[at]gmail.com wrote:

- quote -

> Let me first preface this question with a statement of fact:
> I know little to nothing about corporate tax law or
> practices, I am not a tax professional nor am I studying to
> become one, and so I apologize in advance if the answers to
> my questions are so obvious as to be absurd to those far
> more knowledgeable about such matters then myself. Thank you
> in advance.
> I have recently taken it upon myself to create a proposal
> for a Employee Volunteer Program (EVP) for the corporation
> with whom I'm employed. Idealy the program would work in
> such a manner as to provide an X amount of paid time off to
> volunteer with qualified charitable organization and
> non-profits for working an X amount of regular hours. With
> such a system in place would my company then be able to
> deduct the cost of the paid volunteer hours as a charitable
> contribution?


Yes, and along with the pertinent payroll tax burden.
However, when separating these costs, do not also include
them in Wages and taxes on those lines.

ChEAr$,
Harlan Lunsford, EA n LA

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >
  #-1  
Old 01-21-2007, 08:18 PM
hasuhana@gmail.com
Guest
 
Posts: n/a
Default Corporate Charitable Deductions

Let me first preface this question with a statement of fact:
I know little to nothing about corporate tax law or
practices, I am not a tax professional nor am I studying to
become one, and so I apologize in advance if the answers to
my questions are so obvious as to be absurd to those far
more knowledgeable about such matters then myself. Thank you
in advance.

I have recently taken it upon myself to create a proposal
for a Employee Volunteer Program (EVP) for the corporation
with whom I'm employed. Idealy the program would work in
such a manner as to provide an X amount of paid time off to
volunteer with qualified charitable organization and
non-profits for working an X amount of regular hours. With
such a system in place would my company then be able to
deduct the cost of the paid volunteer hours as a charitable
contribution?

Thanks again!

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >
 

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charitable, corporate, deductions
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