Can I write-off unsold inventory?

Can I write-off unsold inventory?

Bona fide sale: Written-off inventory can be sold to a salvage yard or liquidator and still be eligible for a tax deduction from the IRS. A company would then subtract the profit recovered from the inventory’s original fair market value and could claim any remaining cost as a tax benefit. Jan 4, 2021

What makes a condo a condotel?

A condotel, a portmanteau of condominium and hotel, is a residential development that allows individual unit owners to rent to to short-term guests as if it were a hotel property. These properties will have a check-in desk, housekeeping services, a concierge, and many other amenities found in a traditional hotel.

Is the project subject to additional phasing or annexation?

the project is not subject to additional phasing or annexation; and. control of the HOA has been turned over to the unit owners.

Does Fannie Mae allow high rise condo?

The requirements, which become effective Jan. 1, apply to loans secured by units in high-rise buildings containing five or more attached units. Below are the main points to prepare community associations for the Fannie Mae’s new requirements and subsequent requests from lenders and appraisers. Oct 26, 2021

Is the project legally phased meaning?

A legally phased project requires that a supplement or amendment to the master deed or declaration be. recorded in the public records to formally make additions to the project. Lenders are able to approve legal. phases for projects provided the subject unit’s legal phase meets all requirements of the Full Review. … Dec 15, 2021