Deductions
“I run a failing e-commerce business and have obsolete inventory sitting in my garage, can I completely write off the cost of unsold goods?”
A write-off for obsolete inventory often depends on how the goods were tracked, whether they were actually sold, discarded, donated, or retained, and whether the business uses cash or accrual accounting. The facts around the inventory’s condition, any effort to liquidate it, and the records supporting cost and disposition can all affect how much loss is recognized and when. For an e-commerce business that is struggling, the treatment can also vary based on whether the items are still held for resale or have become worthless in a tax sense. A short conversation with a CPA can sort out what applies to your specific numbers.
In your 90-minute session, the KGOB advisor handling it will:
- Read your exact situation and tell you, in plain English, what’s actually going on.
- Lay out your options and the trade-offs — no jargon, no judgment.
- Give you a clear next step you can act on, whether that’s with us or on your own.
“I incurred massive personal credit card debt to fund my struggling business, is the crippling interest I pay on those cards tax deductible?”
“I use my personal cell phone extensively for my freelance work, what exact percentage of my monthly phone bill is safe to write off?”
“I bought a new high-end laptop exclusively for my side hustle, what specific receipts or logs do I need to keep to prove this to an IRS auditor?”
“I bought expensive custom suits to wear exclusively when meeting with corporate clients, can I write off my professional wardrobe on my taxes?”
This page is a prompt to start a conversation, not tax or legal advice, and states no tax-law specifics as fact. A consult session does not by itself create an ongoing engagement. We do not promise specific outcomes or savings. Kohari Gonzalez Oneyear & Brown PLLC — Charlotte, NC.
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