Accrual-method corporations are not allowed to deduct charitable contributions unless they actually make payment to the charity by year-end.

Name: Accrual-method corporations are not allowed to deduct charitable contributions unless they actually make payment to the charity by year-end.
Brand: Quizplus
Rating: 4.8 (40 reviews)

Question

Quizplus · Accepted Answer

Accrual-method corporations can deduct charitable contributions in the year they are accrued, even if payment is not made until the following year. However, there are limitations and rules surrounding this deduction.

Accrual-Method Corporations Are Not Allowed to Deduct Charitable Contributions Unless