If you’re a business owner who holds inventory, did you know you can get a charitable deduction if you donate it?
When you donate inventory, you can receive a charitable deduction of the lesser of:
- Basis plus 50% of the income/gain if sold for FMV; or
- Twice your basis amount
For more information about how you can help those in need while receiving a tax benefit, contact a ShindelRock tax professional  today.