Kind of a curve ball question:
Our company has a large amount of left over paper stock that is owned by the company. Stock has been sitting on our shelf between 3 months to a few years. The premise:
Donate leftover stock that we don't use anymore to a non-profit. Cut the stock to 8.5 x 11 so they can use it for what they wish. Would this transfer of goods be a tax deductible for the company? Donations to non-profits or charities usually have some sort of tax code, was just interested if anyone knew any specifics on the issue. Keep in mind this would be in the U.S.A.
Our company has a large amount of left over paper stock that is owned by the company. Stock has been sitting on our shelf between 3 months to a few years. The premise:
Donate leftover stock that we don't use anymore to a non-profit. Cut the stock to 8.5 x 11 so they can use it for what they wish. Would this transfer of goods be a tax deductible for the company? Donations to non-profits or charities usually have some sort of tax code, was just interested if anyone knew any specifics on the issue. Keep in mind this would be in the U.S.A.
