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Tax Tips for Christmas

December 13, 2010

From Tax advisor Ron Mueller:
TAX DEDUCTION LIMITS
ON GIFT-GIVING – – AND
HOW TO AVOID THEM!
The tax deduction limits on business gifts
hasn’t changed in years – it’s still only
$25 per person, per year.
BUT…
There is no fixed limit on gifts to companies.

If business associates Jan and Joe Jones
operate their business as “Jones Enterprises,”
address the gift to their company name, and
sign the card with your own name, followed by
“and all of us here at .”
There is no fixed limit on deducting the cost
of this gift, because the recipient was not an
Individual, but a Business.

HOLIDAY CARDS CAN
ALSO BE DEDUCTIBLE!
The cards themselves, and the postage to
deliver them, are both deductible if your
business name appears inside the card
above or below your signature.

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