by jaspreet | Aug 8, 2025 | Uncategorized
Businesses and vendors have long relied on the power of donations to ensure better relationships with potential and existing customers, to show appreciation for their business. When used as part of your overall marketing or employee retention efforts, gifts can be...
by jaspreet | Aug 8, 2025 | Uncategorized
The general rule of thumb is that any gift is a taxable gift. However, there are many exceptions to this rule. The following gifts are generally tax-free. In general, very few people pay gift tax, since even large five- and six-figure donations only count toward...
by jaspreet | Aug 8, 2025 | Uncategorized
Gifts awarded for length of service or security achievement are not taxable, as long as they are not cash, gift certificates, or points redeemable for merchandise. According to the Internal Revenue Service, gift tax applies only to individuals, that is, individuals....
by jaspreet | Aug 8, 2025 | Uncategorized
No, gift cards and gift certificates don’t count as a tax-deductible expense, even if you give them to a customer. In addition, any cash (or cash equivalents) counts as taxable income for the beneficiary. Sending Christmas gifts to customers or customers is...
by jaspreet | Aug 8, 2025 | Uncategorized
That’s a start, but it’s worth considering giving gifts for special occasions as well. Think about onboarding, birthdays, promotions, work anniversaries, life events or monthly connection rituals. A good rule of thumb is to add 15% to your budget...
