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Tax Advice on Tithing /Contribution to Overseas Missions
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Can any Christian brother/sister who has some knowledge on taxation/accounting advise me if my company's contribution to the church as part of my tithing and contributoins to overseas missions be treated as expense items like any fee payments to professional organisations??
Whilst I do want to be ethical in my business practices, including declaring expense items as they ought to be under the law, I wonder if there is a way to treat them in such a manner that I won't end up losing out on any tax exemptions that may be legitimately due to my company. I still have past years' accumulated losses to off-set our current year's profits, but I anticipate we will soon be facing the taxman again!!! Please help by e-mailing to me.
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