February 16, 2022
Newsday quoted Partner Diane Giordano in an article about the tax nuances entailed with corporate charitable giving.
Newsday
By Jamie Herzlich
Excerpt:
Keep in mind, though, there are different rules for different corporate structures, says Diane Giordano, a tax and business services partner at Marcum LLP in Melville. For instance, for a C-corporation, charitable deductions for the year can’t exceed 10 percent of taxable income, she says. For S-corporations, the deduction is reported by the individual and is limited to 50 percent of adjusted gross income for cash contributions, she notes.
