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Thread: Write-offs???

  1. #1
    Join Date
    Feb 2008
    Philadelphia, PA


    Say I'm launching a website where I charge $100 for one unit of my product. While promoting the launch, if I were to give out a bunch of vouchers for one free unit each, could I write-off the vouchers given away when my product only exists online?

  2. #2
    Administrator Chris's Avatar
    Join Date
    Feb 2003
    East Lansing, MI USA
    You can write off the cost of providing the voucher, not your profit from a full sale.

    For instance, I've given away free products before. I can write off the cost of those products to me. I cannot write off the value of what the recipients would have paid for them.

    So, if your product costs you nothing to give away, there is nothing to write off.
    Chris Beasley - My Guide to Building a Successful Website[size=1]
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  3. #3
    Join Date
    Feb 2008
    Philadelphia, PA
    Thanks Chris. That scenario would have been too good to be true, so I figured it probably wasn't, but having no experience with taxes, etc., I had to check.

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