Tis the season for giving & receiving gifts – but why should businesses give? With such a fast-paced world we live in it’s easy to get caught up in receiving, sometimes forgetting to give back to the community. Below are three reasons why your business should consider giving this holiday season.
1) Creates a Positive Bond Between Employees and Employers
Employee trust in the owners is strengthened if they know their employers are looking out for their families and their community’s interests. It’s more personal and it shows that your business is much more than may first meet the eye.
2) Improves Your Public Appearance
Especially today younger generations look for companies who care to give back. I know when I see a company that really cares about its community I am impressed and want to support it. Donating really can provide you with long-term advocates & loyal customers.
3) Tax Benefits to Giving
“Most types of business can directly deduct qualified charitable contributions on their tax returns. Corporations, for example, can make these deductions directly, while sole proprietors would make them on their personal tax returns rather than the business side” (IgniteSpot, 2017).
It’s always nice to have that extra holiday bonus, but the reasons to give back far outweigh the receiving side. Paying it forward is more than just a state of mind, sometimes it’s getting out the checkbook and actually doing it. Help your business benefit by doing charitable work or donating this holiday season.
Graeme Woods, CLU®, ChFC® knows that there is no cookie-cutter way to give back, and as a financial advisor he can help you plan the best practices of giving back for your business. To learn more call G.S. Woods Financial Solutions, LLC at (570) 661-1066 today.
Written by: Cady Ruth Stoever, G.S. Woods Financial Solutions LLC, Marketing and Communications Associate