Charitable Contributions Explained [E100]

This week on Business by the Numbers, Hunt explores the complexities of charitable contributions in tax season:

• Understanding Charitable Contributions: The critical differences between cash and non-cash donations, and their respective impacts on tax returns.

• Navigating Deductions: Learn about what qualifies as a deductible charity, including the specifics of GoFundMe contributions and the importance of fair market value in non-cash donations.

• Business Donation Myths Debunked: Uncover common misconceptions about business-related donations, from vehicle repairs to furniture and equipment, and how to accurately claim these on taxes.

• Tax Season Strategies: Gain valuable insights into the proper documentation and reporting strategies for maximizing your deductions and staying compliant.

• Expert Advice and Resources: Benefit from expert advice and learn how our partners contribute to making informed financial decisions.

Thanks to our partners, NAPA TRACS and Promotive

Did you know that NAPA TRACS has onsite training plus six days a week support?

It all starts when a local representative meets with you to learn about your business and how you run it.  After all, it's your shop, so it's your choice.

Let us prove to you that Tracs is the single best shop management system in the business.  Find NAPA TRACS on the Web at NAPATRACS.com

It’s time to hire a superstar for your business; what a grind you have in front of you. Great news, you don’t have to go it alone. Introducing Promotive, a full-service staffing solution for your shop. Promotive has over 40 years of recruiting and automotive experience. If you need qualified technicians and service advisors and want to offload the heavy lifting, visit www.gopromotive.com.

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online: www.paarmelis.com

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