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Deduct Gifts on your Taxes: How to file gift taxes

If you are able to incorporate your spouse into your business AND incorporate gifts that have a business relationship to them… you win twice!

  1. Make your spouse happy!
  2. The gifts can be tax deductible!

Some examples might include: Apple AirPods (for research, continuing education, focus in the workplace, etc.), camera (used for the business), iPad/tablet, cell phone, a business trip or conference with a vacation package, new vehicle, etc.

Get creative and go big on qualifying gifts! I encourage all owners and entrepreneurs to start thinking outside of the box! Be sure to contact us at Tax Shelter for advice or confirmation on qualifying gift deductions.


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How To File Gift Taxes.

If you are gifting or receiving a gift, it is rarely ever taxable. Right now, there is a lifetime exclusion of $11 million per person