Deduct client gifts

How to Deduct Gifts to Clients


You can only deduct gifts up to $25 per person. Need an easy way to keep track of your client gifts? I’ve got you covered, just download my free client gift tracking spreadsheet.

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Are gift cards considered income?

Are gift cards considered income?

Bookkeeping, Taxes

Yes, since a gift certificate is essentially a promise to do work or produce a product in the future, it’s considered a liability (similar to a debt owed) on your financial statements. Once you perform the service or hand over the merchandise they purchased with the gift certificate, you take that amount out of the liability bucket, and move it into your revenue bucket.

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