Small Business Resource Guide 2002
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Index > Starting Your Business/Keeping Tax Records > What are Business Expenses

Starting Your Business/Keeping Tax Records

What are Business Expenses

Business Gifts

If you give business gifts in the course of your trade or business, you can deduct the cost subject to certain limits and rules.

You can deduct no more than $25 for business gifts you give directly or indirectly to any one person during your tax year.

Important References

Publication 463                  Travel, Entertainment, Gift, and Car Expenses
Form 1040 Schedule C     Profit or Loss From Business