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Is donating office space to a nonprofit a tax write off?

James Bryant's Profile

Answers

Ken Mason
Title: Controller
Company: Pascua Yaqui Tribe
LinkedIn Profile
(Controller, Pascua Yaqui Tribe) |

Hi James,

You are already receiving tax relief from forgoing the rent that you could presumably charge for the space. There is no additional tax benefit - only a possible reclass. If you wish to record a donation on your books, you can use the donee's acknowlegement letter as a basis for booking an entry to debit donation expense and credit the expense line that is most appropriate to relieve your occupancy costs for the space.

Topic Expert
Wayne Spivak
Title: President & CFO
Company: SBAConsulting.com
LinkedIn Profile
(President & CFO, SBAConsulting.com) |

I would take note of the value of the "gift" and use either the concept or the actual value in painting a fuller picture of corporate giving/community involvement. In other words, use the "gift" as a PR vehicle.

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