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Warehouse overstock can generate tax deduction

from DC Velocity

It's tax season, which means most Americans are sorting their receipts, but how would you account for a warehouse full of inventory that had stubbornly refused to sell? Now, your company can claim a tax deduction for donating it all to charity. Supply chain professionals commonly manage excess inventory through inefficient strategies, says Gary C. Smith, president of the National Association for the Exchange of Industrial Resources, a nonprofit group that collects unsold merchandise donated by companies and gives it to schools, churches and nonprofits. more

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