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Company Q

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Company Q has a reputation to secure in the community. Company Q is hoping to not only keep their current clientele but also build more of it. By donating day old food the store is able not only save on publicity costs, but use the tax benefits for food donation to help with cost. To keep and build clientele the company needs to get their name out in the public eye. To do so Company Q also needs to build their reputation as a company that cares. If a business seems empathetic to the public’s needs more people will support and recommend using Company Q’s services. It gives a consumer the feeling of helpfulness and of giving back. The consumer feels good about supporting a store that cares about the local community. Radio, television, and online and print advertisements all serve to draw customers to supermarkets. Advertising among the top four supermarket chains (Kroger Co., Albertson’s Inc., Safeway Inc. and Publix Super Markets, Inc.) ran combined annual totals of $1.9 billion in the early part of the 21st century (http://www.msgcpa.com/files/Grocery.pdf). When donating food to a local food bank companies are able to save money on those costs. The food banks often times maintain public campaigns and benefit celebrations that advertise sponsors of not only money but also goods. With the food banks doing the advertising of the company’s generosity Company Q is able to project a positive community image and save on advertising costs.
When it comes to allowable deductions for charitable donations the general rule is a company is allowed a deduction with respect to a contribution to a public charity. The property is described as
A) The sum of one-half of the unrealized appreciation (market value – cost = appreciation) plus the tax payers cost.
B) It cannot be in excess of twice the cost of the contributed property as described above.
For example:

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