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Donating Excess Inventory to Charity

Please note: This item is from our archives and was published in 2000. It is provided for historical reference. The content may be out of date and links may no longer function.

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CPAs may want to remind clients with excess inventory that they can earn a federal tax deduction when the product is donated to charity. Corporations with a fiscal year ending December 31 should be urged to check their inventory levels now. Clients that have difficulty finding an organization to take their product can contact the nonprofit National Association for the Exchange of Industrial Resources at 800-289-4551. The organization will send them a free guide to the donation process.