An "IRS Newswire" issued on Wednesday, September 5, provides clarification for business taxpayers by stating that business-related payments to charities or government entities for which they receive state or local tax credits can generally be deducted as business expenses.

We have published the full details of this Newswire on our blog at:

https://www.sharrardmcgee.com/blog.php

If you have questions about the implications of this clarification on your business tax planning, your tax advisor at Sharrard, McGee & Co., PA has the answers. Call us at (336) 884-0410 in High Point or (336) 272-9777 in Greensboro.