Whether it’s restaurant catering or a pre-boxed lunch from a grocery store, prepared food and the events that use prepared foods leave a lot of left-overs that are perfectly edible. Most people just throw this food away, but little do they know they are throwing money down the drain. There are many different ways, and…
Roughly 33 percent of the food produced in the world never reaches the mouths for which it was intended. Wealthy individuals waste more than they consume and even more, food spoils during transport. Roughly $1 trillion worth of food is annually tossed needlessly aside—causing a burden on the environment. This fact is even more morally disturbing considering the over 800 million people who go to bed hungry each day and the thousands who die because of hunger.
Corporations, unfortunately, aren’t inclined to give without incentivization. Even necessities, such as food, are often disposed of rather than donated to nonprofit organizations. In recent years, unfavorable tax legislation has led to a decline in food donations because corporations feared civil and criminal liabilities. New tax laws, however, provide necessary legal shelter and offer generous tax breaks—the floodgates for giving are now open.
Every year, workers and business owners embark on tax-filing journeys that are often confusing but highly beneficial. As many are aware, tax refunds and tax breaks in the form of deductions can drastically reduce liability. While scanning your favorite tax preparation website, it’s important to know that tax credits and deductions are stark contrasts but work in tandem with each other.
The never-ending goal of ending world hunger starts with caring about the exorbitant food waste that is prevalent across the globe. One way that corporations and manufacturers could assist the many US food banks currently suffering from shortages of food donations would be to loosen restrictions on donating unsold food items.
Loss prevention is a huge part of retail. Regardless of size and the amount of shrink, controlling loss of products impacts retail as a whole.