12/22/2021
Want to save on taxes this holiday season? Don't buy and give holiday gifts to your Clients that exceed $25.
The IRS does not tax holiday gifts that are lower than $25 in value. These gifts could be a small desk plant, an office appliance like a pencil sharpener, a book, the list is endless. Once its value does not exceed $25, you don't pay taxes on it.
This only applies to tangible gifts to Clients, however, and not to holiday cash gifts. Once the holiday gift is cash, then it is taxable!
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