Charitable Donations Boost Bottom Line, Image

Prysock, Mark
November 2002
Financial Executive;Nov2002, Vol. 18 Issue 8, p61
Academic Journal
The article mentions charitable donations, product philanthropy, and a tax deduction in the United States. Section 170(e)(3) of the Internal Revenue Code allows a generous tax deduction when corporations donate excess inventory to charities that provide services for the sick, needy, or minor children. This deduction is often more valuable in terms of enhancing profitability on financial statements than writing off or destroying the unwanted products. This type of charitable donation is called product philanthropy. Four types of property are eligible under this tax rule including depreciable property and real estate. The Web site for Gifts In Kind International is www.giftsinkind.org.


Related Articles

  • Charitable Giving and Utilitarianism: Problems and Priorities. FLEISCHER, MIRANDA PERRY // Indiana Law Journal;Fall2014, Vol. 89 Issue 4, p1485 

    Charitable giving is redistributive at heart. It is thus surprising that scholarship on the charitable tax subsidies focuses on the efficient and pluralistic production of public goods while largely ignoring distributive justice concerns. Existing scholarship and current law leave crucial...

  • Taxing politics, the politics of taxes. Alexander, Dean // Ellis County Press;9/26/2013, Vol. 22 Issue 25, p3 

    The author reflects on the scheme of taxation created by the government and the aspiration of the citizens to scrap the tax code and filing of taxes in the U.S.

  • Senator Uncovers Billions in Wasted Tax Breaks. Cohn, Michael // Accountingtoday.com;12/11/2014, p4 

    The article focuses on a report, titled "Tax Decoder," by Senator Tom Coburn which highlights tax expenditures in the U.S. Congress. Topics noted include some wasted tax breaks found by Coburn such as gambling loss deductions and tax subsidies for movie productions, tax gap for fiscal year 2014,...

  • The Prudent Philanthropist. Colpitts, Susan; Morris, Wilstar // Trusts & Estates;Jun2012, Vol. 151 Issue 6, p33 

    The article focuses on the tax planning involved in making significant charitable donations or gifts. Topics include charitable giving for top earners, the optimization of estate and gift taxes, and consumer price index (CPI) expectations. Information is provided on annual adjusted gross income...

  • Will Tax Code Reform Help Or Hurt HVACR Incentives? McCrudden, Charlie // IE3;Jul2014, Vol. 3 Issue 4, p20 

    The article offers insight on the impact of the U.S. tax code with the proposed Tax Reform Act of 2014 on the heating, ventilation, air conditioning and refrigeration. It is noted that the proposed law would lower small business rates to as much as 25% and decrease popular tax incentives. It is...

  • Not Quite Time for Government Contractors to Pay the Piper: The American Recovery and Reinvestment Act Provides (Only) Temporary Relief from Mandatory Three Percent Withholding.  // Venulex Legal Summaries;2009 Q1, Special section p1 

    The article focuses on the provision under the American Recovery and Reinvestment Act (ARRA) which involves granting a one-year relief from a mandatory 3% withholding requirement for payments coming from government agencies to public contractors. The ARRA provision goes against Section 3402(t)...

  • What is a 'Fair' Tax System? Cheney, Glenn Alan // Financial Executive;Oct2012, p28 

    This article discusses the degrading state of the tax systems in the U.S. and evaluates various proposals made to implement a fair taxation methodology. Topics include the four-step process suggested by David Marron, the director of the Urban Institute's Tax Policy Center, to replace the...

  • Sen. Wyden proposes capping contributions to 'mega' IRAs. Thornton, Nick // BenefitsPRO;9/15/2016, p1 

    Claiming that the tax code needs "a dose of fairness" when it comes to its treatment of retirement savings, Sen. Ron Wyden, D-Oregon, issued a ...

  • IRS proposes regulations governing cell captives. Zolkos, Rodd // Business Insurance;9/20/2010, Vol. 44 Issue 37, p25 

    The article deals with the proposed regulations published by the U.S. Internal Revenue Service (IRS) in September 2010 for the tax treatment of cell captives.


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics