Charitable Contributions Made by an S Corporation Are Not Deductible

question 58

True/False

Charitable contributions made by an S corporation are not deductible by the corporation; therefore, the shareholders receive no tax benefit from the contributions as itemized deductions.

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Definitions:

Productivity Applications

Software tools and programs that help individuals or organizations to perform tasks more efficiently and effectively.

Hot-Stove Rule

The principle that disciplinary action should be like what happens when you touch a hot stove: It is with warning, immediate, consistent, and impersonal.

Progressive Discipline

A system of dealing with job-related behavior that does not meet expected and communicated performance standards through a graduated range of responses.

Corrective Discipline

A management process that aims to address poor performance or misconduct by an employee through a system of progressive disciplinary actions.