small business

Maximizing Your Impact:

Trade Dollar Donations Explained Navigating the complexities of charitable giving can be challenging, especially for businesses seeking to optimize their tax benefits and maximize the impact of their donations. Thankfully, trade dollar contributions offer a unique and advantageous solution. In essence, trade dollar donations work like cash donations with one key difference: instead of contributing actual currency, businesses donate credits earned through their own services or products. This empowers companies to support their favorite causes while preserving valuable cash flow and potentially increasing sales. The IRS recognizes trade dollar donations as fully deductible, just like cash contributions. This means businesses can claim the full market value of their donated credits on their tax returns, a significant advantage over deducting only associated costs, which is the case for in-kind donations of goods and services. TransMedia Charities plays a crucial role in streamlining the trade dollar donation process. Their platform connects businesses with charities, facilitating credit transfers and ensuring proper documentation. Additionally, TMC assists charities in utilizing their received credits effectively, often through electronic certificates similar to Groupon, eliminating the need for physical certificates and minimizing logistical hurdles. Benefits of Trade Dollar Donations: Improved Cash Flow: Donating credits instead of cash allows businesses [...]

2023-12-18T03:47:02-05:00barter, small business|
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Making Charitable Donations: A Guide for Business Owners

Once your business has become successful, you can consider sharing your wealth and investing in your community through charitable donations. Regardless of how much you are able to give, budgeting for charitable contributions allows you to support the communities that helped establish your business or uplift causes you believe in. Learn how to align your business with a social good by implementing different strategies for charitable giving in the workplace. Why is it important for businesses to make donations to charity? Small businesses play a key role in the local economy and have the ability to make a significant impact on the quality of life in their community. Giving away even a small portion of a business’s profits can directly impact the lives of people in need. Charitable giving can also be a great way to carry out your company’s core values and mission, whether you choose a charity to support entrepreneurs in your industry or contribute to humanitarian efforts. Benefits of making business donations In addition to the personal satisfaction of making a positive impact on others, charitable donations also have strategic benefits for your business. Partnering with charities and making regular donations has several short-term and long-term business [...]

2023-12-18T03:24:17-05:00small business|
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Small Business Charitable Giving Produces Big Impact on Communities Nationwide

Small businesses donate 250% more than larger businesses to local nonprofits and community causes, according to data compiled by SCORE, the nation's largest network of volunteer, expert business mentors. This trend is predicted to remain strong, with 81% of small businesses planning to continue giving more in the upcoming year. How do small businesses support their communities? Give to local charities: 66% Support youth organizations: 48% Donate to local first responders: 42% Support local religious organizations: 39% Aid local service groups (Rotary Club, Scouts, etc.): 37% Donate food or volunteer in soup kitchens: 32% How much do small businesses give? 75% of small business owners donate an average of 6% of their profits to charitable organizations each year. Doing good is good for business: 85% of consumers have a more positive image of companies that give to charities. 90% of consumers want to know how companies are supporting charitable causes. Company-sponsored volunteering engages employees by: Producing employee satisfaction with their employer (93%) Improving employee leadership and broadening professional skill sets (92%) Helping employee well-being (77%) Boosting morale (70%) Strengthening camaraderie with work colleagues (64%)

2023-12-18T03:05:40-05:00small business|
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