This was a Christmas gift - deductible?
Joshua • Multi professional
Dixon Garcia
CPA, FlyFin
In General, the IRS does not allow any Entertainment, Personal, living or family expenses as tax deductions. However, you can deduct no more than $25 of the cost of business gifts to your client you give directly or indirectly to each person during the tax year.
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Dixon is one of the best tax experts from the United States. He has an experience of 28 years in the field of corporate finance. Before FlyFin, Dixon had served as the Tax Head at KPMG, NJ.