They’ll just write the loss off on their taxes and probably make money. You know the they could have returned the guns to the wholesalers for resale at another outlet.
I wonder if that would be considered tax fraud, since the claimed "loss" would be 100% voluntary, intentional and purposeful.
Didn’t see your post, but that’s exactly what I was thinking.
I don’t think they can. It isn’t like the stock was destroyed in a fire or flood. they did this on their own. Its like getting a tax write off because you tourched your own business.
That might have worked in the good old days, but that meanie Trump went and simplified the tax code, lowering the corporate rate to a flat 21%. Even were the cost of the intentionally destroyed goods allowed as a deduction, Dicks is on the hook for $.79 out of every Dollar.
Theyll just write the loss off on their taxes and probably make money.
This is a deliberate setting up of a loss. Sort of like ARSON on your own building. With all of this publicity, perhaps the IRS won’t allow such a loss.
But-—long before they try to write such a loss off, the stockholders better step in. Their investments could be tanking soon.