Is This Your Situation — Clearing Out Inventory?
May 20, 2014 by Stephanie Potash
For example, you can donate the inventory and equipment to organizations that serve the “ill, needy or infants.” In many cases, the tax deduction you get will be worth more than the amount you could make by liquidating or discounting. There is also a special tax break for donating computer equipment to certain charities.
These are just a couple ways to deal with surplus inventory and equipment. Contact us to find out all your options and ensure your company gets the maximum tax breaks available.