This video is for Real Estate Agents, Realtors, Brokers and other small business owners who want to learn more about the business gift tax deduction. I answer the questions listed below:
1. What is the dollar limit to which a gift is tax deductible?
2. Do incidentals such as gift wrapping count towards the limit?
3. What should you do as far as record keeping?
4. What if you want to give entertainment (e.g. football tickets) as a gift?
5. What about giving a business entity a gift? Are the rules different?
6. What are some tips related to bookkeeping for business gifts?
Take what you learn from this video and ask your legal or tax professional all of your specific questions. If you want to contact me, my information is below.
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