Donating Excess Inventory to Charity

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Information about Donating Excess Inventory to Charity
Business & Mgmt

Published on March 8, 2014

Author: dubanaccountancy

Source: slideshare.net

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Donating Excess Inventory to Charity

Donating Excess Inventory to Charity

Donating Excess Inventory to Charity A tax firm located in Los Angeles, California, Duban Accountancy helps businesses and individuals with accounting, financial planning, and business management services. Duban Accountancy is staffed by a team of experienced financial experts who help foster long-term professional relationships with each of their clients.

Donating Excess Inventory to Charity During year-end inventories, many business owners are unsure of what to do with excess items. To the surprise of many, some of these items can be donated to charity for a significant tax deduction. Under IRS law, corporations can receive deductions for items such as canceled orders, returns, slow sellers, and more. These items are often collected by nonprofits and distributed to locations where they are needed.

Donating Excess Inventory to Charity In terms of finding charities to take the items, you may need to do a little online research and make a few phone calls to find charities that need what you have to offer. However, there are some nonprofit organizations that specialize in collecting excess inventory and distributing it to the appropriate charity groups.

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