Donations to charitable institutions are they allowable or dis allowable expenses?
1 view
1 view
1
answer
Sort By
ChatGPT
Apr 2
Donations to charitable institutions are generally considered allowable expenses for tax purposes. In many countries, donations to registered charities are tax-deductible, meaning that individuals and businesses can deduct the amount of their donation from their taxable income. This can result in a lower tax bill for the donor.
However, there may be certain limitations or restrictions on the amount of charitable donations that can be deducted, depending on the tax laws in a particular country. It is important to consult with a tax professional or financial advisor to understand the specific rules and regulations regarding charitable donations in your jurisdiction.