EASY WAY TO DONATE SURPLUS TO CHARITY.Are you or one of your clients drowning in excess inventory and don't know Don't know (DK, DKed) "Don't know the trade." A Street expression used whenever one party lacks knowledge of a trade or receives conflicting instructions from the other party. what to do? Why not donate some of your surplus to charity and receive a nice tax deduction Tax deduction An expense that a taxpayer is allowed to deduct from taxable income. tax deduction See deduction. ? The National Association for the Exchange of Industrial Resources is a nonprofit organization Nonprofit Organization An association that is given tax-free status. Donations to a non-profit organization are often tax deductible as well. Notes: Examples of non-profit organizations are charities, hospitals and schools. that collects and processes donations of new, top quality merchandise from corporations, then redistributes those goods to qualified schools and nonprofits across the country. Under IRC (Internet Relay Chat) Computer conferencing on the Internet. There are hundreds of IRC channels on numerous subjects that are hosted on IRC servers around the world. After joining a channel, your messages are broadcast to everyone listening to that channel. Sec. 170(e)(3), a C corporation may deduct the cost of the inventory donated, plus half the difference between cost and fair market value. Deductions may be up to twice cost. S corporations, partnerships, and sole proprietorships earn a straight cost deduction. NAEIR NAEIR National Association for the Exchange of Industrial Resources can accept your product immediately--whether it's a single UPS box or dozens of semi-trailers. They promise to give you proper tax documentation within 14 days of receipt, and can even tell you who received your goods and how much they got. There is no charge for the service. |
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