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Q&A of the Week - June 10, 2020

Q&A 6-10-20.png

Answer:

According to the Tax Law:

You will not be able to take a charitable deduction for the inventory donated to the nursing homes.

You will be able to deduct the cost inventory donated as a business expense.

You will not be able to deduct anything for the value of your consulting services.

There is no special documentation you need from the nursing home.

Question Of The WeekJennifer McGheeGundling CPA QA of the Week, tax law, charitable deductionComment