Newsday quoted Partner Diane Giordano in an article about the tax nuances entailed with corporate charitable giving.
By Jamie Herzlich
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.