What BUSINESS GIFTS means: Business gifts are gifts to a taxpayer's clients or other business associates made in the course of the taxpayer's trade or business. They must be ordinary and necessary to the taxpayer's business. The cost of qualified business gifts is deductible to a maximum of $25 per year per client or customer. The $25 limit does not apply to promotional items costing $4 or less on which the taxpayer's name is clearly imprinted.
- Definition Bad Debts:
- Dictionary receivable that have been included in income in a prior year that are uncollectible, legally binding debts owed to the taxpayer that are totally worthless and uncollectible, and debts the taxpayer business gifts.
- Definition Basis Of Stock:
- Dictionary amount paid for the stock. If the stock is received as a gift, basis is generally the basis of the previous owner or the fair market value when received. The basis of inherited stock is usually its business gifts.
- Definition Bankruptcy:
- Dictionary For tax purposes, a formal petition filed in a Bankruptcy Court under Chapter 7, 11, 12, or 13 of Title 11 of the U.S. Code business gifts.
- Definition Bearer Bond:
- Dictionary A bond that has no owner's name registered on the books of the issuing company and is therefore payable to the holder business gifts.
How works Business Gifts meaning in Tah definition B .