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Old 09-01-2009, 01:59 PM
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Join Date: Sep 2009
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How are free products from companies taxed?

Let's say I have product review business. Companies send me free products that I tinker with, then write about. Questions:

Do I have to pay taxes on the products I receive (are they considered gifts?)?

If yes to the above, should I just send them back when I'm done instead?

If yes to the above, are the shipping costs to send the products back tax deductible?

What about if I give the products away to charity instead?

Thank you!

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