I am a self employed high-tech consultant with an international practice. I would like to thank some of the great people who help me get and/or execute contracts by offering them high-tech gifts like an iPod, or a digital camera. For tax purposes, can I consider these gifts as marketing expenses and deduct them as such on my Schedule C? If so, is there any limitation on the price of each of those gifts (a digital camera is in the $200-$300 range, same with an iPod)?
Do high tech gadgets gifts count as marketing expenses?
You can give anything you want but the deduction for business gifts is limited to $25.00 per person.
Reply:$25 per person per year is the limit on gifts.
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