1. Business deduction opportunity for pass-through entities contributing to HEART
IRS Regulations proposed in December 2019 confirm the federal deductibility of contributions to a qualified RHO by pass-through entities as ordinary and necessary business expenses.
2. NO federal income tax cost for contributing to qualified rural hospital organization
Guidance released by the IRS in June 2019 eliminates any potential federal income tax cost for taxpayers who contribute to a qualified rural hospital organization (RHO) in exchange for a state income tax credit. And, of course, their 100% state income tax credit remains intact.
For more details, refer to: Good News: IRS Releases Notice Affecting Contributions to Georgia HEART