Anonymous asked in Business & FinanceSmall Business · 1 month ago

If a small business wanted to donate a percentage of proceeds to organizations such as Black Lives Matter, would they need a CCV?

I've seen a lot of talk about commercial co ventures and donating to causes. In this case, would setting one up be mandatory?

2 Answers

  • Jay
    Lv 6
    1 month ago

    No.  You just donate the money at the end of your campaign.

    AND you do it by check and get the name of the organization because charitible donations ARE A TAX DEDUCTION  and ta TAX DEDUCTION is of benefit tpo your pay less taxes.

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  • Anonymous
    1 month ago

    CCV stands for many things,,, depends on the one you speak of 

    the answer is no 

    donating money is not a benefit to the donating party other than they feel they did good things

    the myth it is a tax benefit is incorrectly assumed  and assigned especially small business

    mega business as well do not financially benefit from donations.. they are buying favors for down the line advertising for the most part in the name of good will 

    money donated does not return in any form to a donating party via tax return etc ... it meagerly lowers the amount of taxable income ,, but still the donating party is out the money with no real positive return 

    IE: if you want to lower the amount of taxes you pay, tell your boss to cut you pay in half 

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