TaxAudit Blog

Tag: gifts

Man preparing gifts for clients

Tax law does allow business owners to use the gifts they made to clients to increase their deductions from taxable income, but there is a dollar amount limit.

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Money background with one 100 dollar rolled up as a heart

My minor daughter was a beneficiary for her uncle's savings account. Does she need to report it as income?  Are there tax implications if she gifts the money?

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