ILLMAS Posted June 23, 2015 Report Share Posted June 23, 2015 Oy vey, it sounds like TP is in an industry that you need to keep people happy if you want work. TP gave a couple of gifts ranging from $25 to $1,500 and did not provide a 1099, TP is under the microscope for another business he owned a couple of years ago, would it be wise not to deduct the gifts and just pay the tax since he did not comply with the gift requirement? Thanks MAS Quote Link to comment Share on other sites More sharing options...
Abby Normal Posted June 23, 2015 Report Share Posted June 23, 2015 (edited) What would the business gift limit be if adjusted for inflation?Edit: It was $25 back in 1954!!http://www.nolo.com/legal-encyclopedia/are-gifts-business-clients-deductible.html Edited June 23, 2015 by jmdaviscpa Quote Link to comment Share on other sites More sharing options...
Abby Normal Posted June 23, 2015 Report Share Posted June 23, 2015 According to that link I posted, company-wide gifts are not subject to the $25 limit. That exception may help your client. Quote Link to comment Share on other sites More sharing options...
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