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James Bryant CFO

Is donating office space to a nonprofit a tax write off?

Asked on Sept. 1, 2015

Answers

Ken Mason Controller • June 5, 2012

Hi James,

You are already receiving tax relief from forgoing the rent that you could presumably charge for the space. There is no additional tax benefit - only a possible reclass. If you wish to record a donation on your books, you can use the donee's acknowlegement letter as a basis for booking an entry to debit donation expense and credit the expense line that is most appropriate to relieve your occupancy costs for the space.

Wayne Spivak President & CFO • June 6, 2012

I would take note of the value of the "gift" and use either the concept or the actual value in painting a fuller picture of corporate giving/community involvement. In other words, use the "gift" as a PR vehicle.

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