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What you need to know about deducting business gifts

Leave a Comment / Business Deductions, Business Meals and Entertainment, Gifts, Holiday gifts /

Thoughtful business gifts are a great way to show appreciation to customers and employees. They can also deliver tax benefits when handled correctly. Unfortunately, the IRS limits most business gift deductions to $25 per person per year, a cap that hasn’t changed since 1962. Still, with careful planning and good recordkeeping, you may be able […]

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Businesses can show appreciation — and gain tax breaks — with holiday gifts and parties

de mimimis Fringe Benefits, Employees, Fringe Benefits For Employees, Holiday gifts, Small Business, Tax Deduction /

With Thanksgiving just around the corner, the holiday season will soon be here. At this time of year, your business may want to show its gratitude to employees and customers by giving them gifts or hosting holiday parties again after a year of forgoing them due to the pandemic. It’s a good time to brush

Businesses can show appreciation — and gain tax breaks — with holiday gifts and parties Read More »