Corporations need to be careful if they try to reclassify charitable contributions as ordinary and necessary business expenses under the 2025 federal tax law.
The introduction of the 1% floor on corporate charitable contributions should prompt businesses to evaluate whether payments that were once classified as charitable contributions could qualify as ordinary and necessary business expenses.
For decades,… [6484 chars]
Source: Bloomberg Tax News | Published: 2026-02-20T09:30:08Z
Credit: Bloomberg Tax News
