Of course, we get a lot of clients coming to us with Los Angeles local and city tax problems. We’re only too happy to help them solve these issues and even offer some interesting suggestions. For example, here’s
a few ways you can avoid running afoul of the IRS and save on taxes at the same time.
Like a lot of other possibilities when it comes to saving on your taxes, there’s a few benefits to making charitable donations that may not be obvious at first glance. For example, a recent survey says up to 85% of customers look favorably on small businesses that donate to charity.
Long story short, from a business perspective you can actually drum up more clients while saving on your taxes at the same time. Here’s another good tip. Charitable donations should be part of your business model and not just a one-time thing at tax time.
Research has shown that companies that get a reputation for these types of donations can actually increase their business by 35% over the long term.
What to Look For
It stands to reason that not all of these charitable organizations are the same. Experts in the field say there are millions of charitable organizations in the USA but not all of them are completely credible.
Here’s a few things to look for so you don’t run into any California local and city tax problems.
- There is no shortage of resources available online so you can check out the reputation of an organization before you decide to donate. The Federal Trade Commission has one of the best and you can follow this link before you open your pocketbook.
- If you can, it’s also a really good idea to meet with the head of the organization or at least some of their representatives. It’s excellent if they can provide testimonials as well as data driven evidence
about the work they’ve done.
There are a variety of ways that you can take advantage of these charitable deductions. Even volunteering and sponsoring a charity event works under some circumstances. Doing some good for your business
and your community at the same time is an excellent way of avoiding Los Angeles local and city tax problems. Why not get in touch with us today so we can explain more?