From responsibly-made clothes to sponsoring a Down Syndrome Awareness 5K, there are more opportunities to be involved in your local charities than ever before. Clients are more likely to utilize a company’s services if the company has a good reputation and is doing good by getting involved.
Being charitable not only brings in customers, but it also provides some great PR for your company. By helping others, your community and your clients will have a greater respect for you. This is especially beneficial for small companies in tight knit communities to have a big impact and benefit their surrounding foundations. There are many ways to promote your acts of philanthropy through your website, social media and word of mouth, which creates great buzz around your company.
Additionally, it can be extremely motivating for your employees to work harder when they know that their company is striving to make a difference in the world. By asking employees opinions of charities that are near and dear to them, it will allow for them to be a bigger part of giving back and feel more invested. Your employees will respect your efforts to do good and in turn, respect you more as a leader.
Lastly, being charitable can lead to some great tax deductions. Your business can receive a tax deduction for doing a variety of charitable acts such as sponsoring a charity or an event. Although tax savings shouldn’t be the sole reason to be charitable, it’s definitely an added benefit!
When it comes to taxes, contact Great Lakes Accounting to get the most of your return based on your acts of philanthropy.