May 20, 2024

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Dayne Yeager: How Philanthropy Can Benefit Your Business Financially

Giving back is an important part of being a business owner, but it’s not just about your own well-being as a person. People want to buy from businesses or companies they feel good about and companies that give back to the community are often seen as more trustworthy and reliable than those who don’t.

It’s also worth noting that philanthropy can help attract new clients and customers, enhance your reputation and create opportunities for employees. For that, Dayne Yeager will discuss how philanthropy can greatly benefit your business in the financial aspect.

Gain Business Tax Advantages

As a business owner, you can donate property to charity and deduct the fair market value of that property from your taxes. You can also make cash donations up to 50% of your adjusted gross income (AGI).

Donating appreciated stock or other securities has some additional tax benefits for your business. First, it allows you to avoid paying capital gains taxes on any increase in value since the purchase date, a great way for an investor who has held onto stock long enough but doesn’t want to sell it yet because they think its price may go even higher.

Also, if you donate within 30 days of purchasing shares to donate those shares later on that year, then any appreciation after the purchase date will still be eligible for this special treatment even though technically they are no longer “new” assets when given away at year’s end. This helps keep things simple while still allowing investors who might otherwise miss out on this opportunity to access it through charitable giving instead.

Attract New Business Clients And Customers

Give back to the community and people will notice your business or company. People who are philanthropic are more likely to buy from your business because they see you as a good citizen and employer. They also know that when they buy from your company, they’re supporting a cause that’s important to them, and helping make the world a better place for everyone.

Also, Dayne Yeager believes that giving back through philanthropy can help build your reputation as an employer, too. If employees are passionate about volunteering in their spare time (even if it’s just once per month), then this will reflect well on how much they care about their jobs at your company.

That kind of dedication from your business or company can inspire other people who may be considering working with or hiring with this business or company down the line and could even lead prospective clients/customers into becoming repeat customers over time.

Enhance Your Business Reputation

And finally, giving back to your community through philanthropy is one of the best ways to build a positive reputation as an ethical and moral business. People who give back are seen as more trustworthy, successful, and intelligent ones than those who don’t.

In fact, a recent study shows that people with businesses who donate money are perceived as more intelligent than those who don’t, and this perception can be traced back to early childhood development and can be advantageous to your business financially!