If you give gifts to your clients, customers or associates in the course of your trade or business, you may be wondering if these gifts are tax deductible.
The good news is that yes, they are. However, the IRS imposes serious limits on how much you can deduct.
Under current rules, which have not been updated since 1962, there is a $25 limitation on deductible business gifts to any individual. This means that you cannot deduct more than $25 per recipient per tax year.
Want to learn more? Call us at 732-739-2632 for a consultation. Our Certified Public Accountants are ready to help.
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