My online store is trimming down, and I want to give about $50k worth of excess inventory (Brand new, in box) to a local charity. I've heard there are special rules / regulations on these types of charitable donations now, and I won't be safe to claim $50k on my taxes as a write-off with the normal hand written receipt the driver drops off blank when he picks up my donations.
Does anybody here have any experience with donations of this size? Anybody have any ideas on any gotchas I should be aware of before I claim this $50k donation on my taxes this year?
Cheers,
- Hakrjak
Does anybody here have any experience with donations of this size? Anybody have any ideas on any gotchas I should be aware of before I claim this $50k donation on my taxes this year?
Cheers,
- Hakrjak
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