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For Those Who Cater/Vend
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CTMike
Posts: 3,247
A note for you guys that cater/vend:
If you have leftover food, please consider donating it to a local soup kitchen. You will help out those less fortunate by providing them a great meal, and you may even be able to take a tax write-off as a charitable contribution.
We had a big 3 day fair over the weekend and sold to 1082 customers (some of those were drinks only though). Needless to say we had a pretty big chunk of leftovers. My wife stopped in yesterday to inquire about donating, and watched as an individual asked for a second piece of fruit, and was told that they couldn't because they would run out. Heartbreaking.
So we have decided that we are going to partner with the community kitchen and provide them will all of our leftovers, and once a month provide 150 meals (pulled pork sammiches, beans, slaw, water, and maybe a couple cases of apples).
Sometimes it is too easy to focus on our own small problems and forget how good many of us have it.
Additionally, if anyone is interested I can send you a white paper from PWC concerning enhanced tax deductions for food donations to charitable organizations that feed the needy. Basically you can deduct your basis cost for the donated food, and half of the fair market value of your profit.
For example, if your cost basis of donated food is $500, and the fair market value if you had sold it is $1500, you could take a $1,000 enhanced deduction. The only limit is you can not deduct more than twice your basis cost. If interested, send me a message with an email address and I will send you the white paper.
Food for thought.
If you have leftover food, please consider donating it to a local soup kitchen. You will help out those less fortunate by providing them a great meal, and you may even be able to take a tax write-off as a charitable contribution.
We had a big 3 day fair over the weekend and sold to 1082 customers (some of those were drinks only though). Needless to say we had a pretty big chunk of leftovers. My wife stopped in yesterday to inquire about donating, and watched as an individual asked for a second piece of fruit, and was told that they couldn't because they would run out. Heartbreaking.
So we have decided that we are going to partner with the community kitchen and provide them will all of our leftovers, and once a month provide 150 meals (pulled pork sammiches, beans, slaw, water, and maybe a couple cases of apples).
Sometimes it is too easy to focus on our own small problems and forget how good many of us have it.
Additionally, if anyone is interested I can send you a white paper from PWC concerning enhanced tax deductions for food donations to charitable organizations that feed the needy. Basically you can deduct your basis cost for the donated food, and half of the fair market value of your profit.
For example, if your cost basis of donated food is $500, and the fair market value if you had sold it is $1500, you could take a $1,000 enhanced deduction. The only limit is you can not deduct more than twice your basis cost. If interested, send me a message with an email address and I will send you the white paper.
Food for thought.
MMBGE / Large BGE / XL BGE (Craigslist Find) / SF30x80 cabinet trailer - "Ol' Mortimer" / Outdoor kitchen in progress.
RECOVERING BUBBLEHEAD
Southeastern CT.
RECOVERING BUBBLEHEAD
Southeastern CT.
Comments
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Great information right there. Congrats on sorting it out and offering it up on the forum.Louisville; Rolling smoke in the neighbourhood. # 38 for the win. Life is too short for light/lite beer! Seems I'm livin in a transitional period.
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Good for you Mike. Great thinking on your part to keep this good out of the trash and into a hungry belly. The soup kitchens are very humbling to say the least.Snellville, GA
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Eggdicted_Dawgfan said:Good for you Mike. Great thinking on your part to keep this good out of the trash and into a hungry belly. The soup kitchens are very humbling to say the least.
I will be speaking with my wife when I get home about committing 10% of the company's profits to the soup kitchen, as well as all of our viable leftovers.
Also we were surprised to learn that one of the things we donated that would be appreciated the most was the 4 cases of bottled water.
MMBGE / Large BGE / XL BGE (Craigslist Find) / SF30x80 cabinet trailer - "Ol' Mortimer" / Outdoor kitchen in progress.
RECOVERING BUBBLEHEAD
Southeastern CT. -
Especially this Thanksgiving. My wife and I made an extra turkey and sides for a lady we connected with through a local food shelter last year. She was bawling after we stopped over with food. She didn't have anyone around to spend thanksgiving with. It only took an hour of our time. If you have an extra egg and find a few minutes to sneak out it's an awesome feeling helping out someone in need.
I'd love to see it turn into a throwdown this Thanksgiving!"The pig is an amazing animal. You feed a pig an apple and it makes bacon. Let's see Michael Phelps do that" - Jim Gaffigan
Minnesota -
@CTMike Thank you for this post. I always want to help my community. I do not have a BBQ or any type of business. I do have a strong desire to help. I have never passed on a chance to give to The Shriner's or St Jude. But I always feel I can do more. This might help me fill that need. Thank you again.
XLBGE, LBGE
Fernandina Beach, FL
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six_egg said:I have never passed on a chance to give to The Shriner's or St Jude.
I am a Shriner (JOPPA) myself. So on behalf of all Shriners, I say thank you for your support my friend.
Location- Just "this side" of Biloxi, Ms.
Status- Standing by.
The greatest barrier against all wisdom, the stronghold against knowledge itself, is the single thought, in ones mind, that they already have it all figured out. -
WeberWho said:Especially this Thanksgiving. My wife and I made an extra turkey and sides for a lady we connected with through a local food shelter last year. She was bawling after we stopped over with food. She didn't have anyone around to spend thanksgiving with. It only took an hour of our time. If you have an extra egg and find a few minutes to sneak out it's an awesome feeling helping out someone in need.
I'd love to see it turn into a throwdown this Thanksgiving!Snellville, GA -
CTMike said:Eggdicted_Dawgfan said:Good for you Mike. Great thinking on your part to keep this good out of the trash and into a hungry belly. The soup kitchens are very humbling to say the least.
I will be speaking with my wife when I get home about committing 10% of the company's profits to the soup kitchen, as well as all of our viable leftovers.
Also we were surprised to learn that one of the things we donated that would be appreciated the most was the 4 cases of bottled water.Snellville, GA -
CTMike said:Eggdicted_Dawgfan said:Good for you Mike. Great thinking on your part to keep this good out of the trash and into a hungry belly. The soup kitchens are very humbling to say the least.
I will be speaking with my wife when I get home about committing 10% of the company's profits to the soup kitchen, as well as all of our viable leftovers.
Also we were surprised to learn that one of the things we donated that would be appreciated the most was the 4 cases of bottled water.Keepin' It Weird in The ATX FBTX -
The Cen-Tex Smoker said:CTMike said:Eggdicted_Dawgfan said:Good for you Mike. Great thinking on your part to keep this good out of the trash and into a hungry belly. The soup kitchens are very humbling to say the least.
I will be speaking with my wife when I get home about committing 10% of the company's profits to the soup kitchen, as well as all of our viable leftovers.
Also we were surprised to learn that one of the things we donated that would be appreciated the most was the 4 cases of bottled water.Midland, TX XLBGE -
I wish I could "like " this more. Given our country's and society's excesses in general, you would be even more saddened to know how many kids go hungry on a daily basis in the US.
Kudos to you, sir. You inspired me to look for a way to contribute to my community too.#1 LBGE December 2012 • #2 SBGE February 2013 • #3 Mini May 2013A happy BGE family in Houston, TX.
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