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Tracking Discounts
In a service-based, S-Corp business, is there any tax benefit to tracking client discounts we give? I saw discounts as a line item when processing the tax return for the business, and it made me curious. Typically, we just don't charge the customer for the things we are "discounting". Would it be beneficial for tax purposes to list these services on the invoice (when applicable) and then give a discount for them?
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‎December 14, 2023
4:26 PM