The Internal Revenue Service (IRS) announced this week that business payments to charities that result in state or local tax credits will be deductible expenses in most cases. This is unlike the manner in which the IRS has said it will treat payments that individuals make to charities (details here). For more information on SALT deductions available to businesses, click here.
State and Local Tax Deductions Available to Businesses
On behalf of Law Office of Williams & Associates, P.C. | Sep 7, 2018 | IRS