Owner Philanthropy - What is the Tax view?
Steve Parrish makes an interesting point in Forbes about the roll of phlianthorpy in business and how the US tax laws look at it. Steve starts with a quote from Adam Smith who said in the same year that Thomas Jefferson wrote the Declaration of Independence, Adam Smith famously made the case for business owner self-interest.He wrote:
“It is not from the benevolence of the butcher, the brewer, or the baker, that we expect our dinner, but from their regard to their own self-interest.”
In other words, you do good by doing well financially.
The rest of the story can be found here
Steve Parrish, Tax and Philanthropy.