Question:

Can I donate to a charity from my S-Corporation?

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A private charity. Can i just cut a check - they are 501(c)3 non-for proffit

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  1. Yes, just cut them a check.  S-corporations can make charitable contributions.  Like all other items of income and expense, it flows through to the S-corp owners, where it gets populated as an itemized charitable contribution on the Schedule A.  

    There's a general limit that corporations have that restricts their charitable deduction to 10% of their taxable income.  Anything left over must roll forward.  That rule does not apply to S-corporations.  The full deduction can be claimed, and it's up to the shareholder-level limits from that point forward

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