JR1 wrote:Well, it's not a charitable contribution, but why can't you just pull it via cost of goods?
beardenjv wrote:I suppose if you can't move the cost of that inventory into a deductible donation expense, then you may have to move it to a non-deductible expense, because I don't suppose they had a business reason for the donation (not ordinary & necessary)?
CaptCook wrote:It appears to have been part of a promotion, which is as business reason as it gets. I'd have no issue running the cost of these goods through COGS.
To OP...there's no "double dipping" for this. If you've already deducted it in COGS, stop there. Do not cross 'Go'; do not collect $200.
JR1 wrote:No double dip. And you said above that it's already been written off......which means you're at getting a warm feeling only.
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