Donation rule makes it easier for businesses to give
February 16, 2022
Business owners who qualify under certain IRS guidelines and want to help the community can skip a step when it comes to how they make donations.
A change to the tax code a few years ago makes it possible for a business to donate items to a recipient without first moving it through a nonprofit organization.
“After The Salvation Army combed through a lot of IRS stuff, what we discovered is we no longer have to take full possession of something before we can give it,” said Lt. Jon Tollerud, who runs the Wrangell Salvation Army. “Which is a very big benefit … let’s say somebody has a...