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BOGO AND TAXES

Forum|Forum|4 years ago
October 27, 2021
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I do a Christmas Buy Two Get One Free sale. Is there a write off on all the free service?

Best answer by BarbL

As Critter stated, there is no write-off for services given for free. However, any expenses related to those services would be deductible. For example, if you are a photographer giving away a free on-location portrait session and one print from the session, your mileage to the location and your cost of the print would still be deductible even though the time and your services would not.

Critter-3

There is no "write off" for services given away ... you will simply have less income to report.

BarbLAnswer

As Critter stated, there is no write-off for services given for free. However, any expenses related to those services would be deductible. For example, if you are a photographer giving away a free on-location portrait session and one print from the session, your mileage to the location and your cost of the print would still be deductible even though the time and your services would not.

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J

jobejobieAuthor

I am an LMT and I am giving free Massage Therapy sessions at my location. So I can use the cost of each package the client gets for free? (it is a physical certificate the are purchasing and getting for free after buying two certificates BTGO

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DonnaD2020

If there is a product that is being given for free, the cost of the product would be an expense. If they are getting services from you, you cannot deduct the value of your time.