Nora owns a C Corporation business. She wants to contribute $70,000 in December of this year to
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Nora owns a C Corporation business. She wants to contribute $70,000 in December of this year to the charitable and nonprofit Boys and Girls Club. She would like to know if she should contribute this from her business account, C Corp, or her 1040. Are there any tax advantages and limitations? Her taxable projected income will be $500,000.
Her 1040 adjusted gross income $350,000.
Calculation and information should be based on current tax law (2022).
Related Book For
Foundations of Financial Management
ISBN: 978-1259194078
15th edition
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen
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