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Level 1

In my wife's Mary Kay Business this year there was a large amount of expired products that were thrown away. Can I deduct it on my taxes?

 
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Level 6

In my wife's Mary Kay Business this year there was a large amount of expired products that were thrown away. Can I deduct it on my taxes?

If you throw away expired products, this would reduce your ending inventory at year end and lower your profit. This is the way to account for expired products. You do not separately deduct the expired products.