We treat business donations the same as individual donations. We give them a tax receipt and the rest is up to them to work out with their accountant or when they do their taxes.
Wanda
Wanda Pelegrina Caldas, Board Member
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Thanks!!
Date: Thu, 10 Oct 2013 11:55:55 -0400 From: matt@uticabikerescue.org To: thethinktank@lists.bikecollectives.org Subject: [TheThinkTank] Donations from Businesses
ThinkTank,I have been trying to research this and I'm not really finding a complete answer. Perhaps some of you have personal experience/knowledge that can help. There is a bike shop in my City that has a stockpile of used bikes in a warehouse and they've expressed some interest in donating them to our community bike shop. Does anyone know specifically what the tax advantages are for the business that donates? I know how it works for individuals but I don't know how it works for a business.
Does anyone have epxerience with this?
Thanks, Matt