Article Date:
February 2010


Word Count:
814

 

 

Business Gift Basket Tax Deduction


During the holiday season, I send gift baskets to colleagues, referral sources, and select customers. My purpose is to keep my name in front of these people for obvious business reasons. Can I write off the cost of the gift baskets as a business expense? (J.T., New London, CT)

 

Yes, you may write off the gift baskets as business gifts but only up to $25 annually for each recipient.1

 

If the total cost of all your business gifts ... Log in to view full article.

Log in to view full article
Already a subscriber?
 
Email Address

 
Password

Log In Send me my password

You'll be able to read the full article and get instant access to the last few issues of the Tax Reduction Letter

Not yet a subscriber?
 
with a money-back guarantee