Inventory Withdrawn for Personal Use: Keep It Out of Cost of Goods Sold
A store owner taking merchandise home changes the inventory calculation.
TOPIC COLLECTION
Operating deductions
A focused reading path from The Profit Planning Journal. Start with the question closest to your situation, then review the linked sources and documentation steps.
A Client Gift Budget Is Not the Same as a Deductible Gift Budget
Track the annual recipient limit before forecasting tax relief.
One Attorney Invoice Can Contain Business Deductions, Capital Costs, and Personal Work
Classify the underlying work before calling the whole bill deductible.
Domestic Research Costs After the 2025 Law: Rebuild the Deduction Forecast Under Section 174A
Separate current domestic spending, foreign research, and older unamortized balances.
A Government Settlement Payment Is Not Automatically a Deductible Business Expense
Separate fines from qualifying restitution and prove the exception.