Businesses Receive Substantial Tax Deductions for Donating Food
May 03, 2018
Business managers: Did you know you get great tax deductions for donating food? Eligible businesses can deduct the lesser of (a) 2x the basis value of the donated food & (b) the profit margin if the food were sold at its Fair Market Value. Details from Harvard are here.
[ExtraFood provides a receipt for tax purposes to any ExtraFood food donor immediately upon request at any time.]