Logos Financial Group - Terrance Hutchins

🌟 How are you treating your gifts to clients for tax purposes? 🎁

The IRS has a $25 rule for client gifts per recipient annually. You can spend as much as you want, but the excess is just your generosity.

You can amplify this amount by incorporating costs like engraving, packaging, and postage. These extras don't touch your $25 quota! 📬🎨

Items below $4 that proudly display your brand (think a chic pen 🖊️ or a handy calendar 📆) aren't just tokens of appreciation(they may not be wanted lol) but are also 100% deductible, bypassing the $25 benchmark.

Of course, The IRS adds a wrinkle and breaks down business gifts into two categories: Direct Gifts and Indirect Gifts.

🎯 Direct Gifts: Go straight from you to the recipient. Think of a pound of Dunkin Donuts coffee for a favorite client.
🔄 Indirect Gifts: You give it to one person, but it's really for another. Like giving a customer a set of kitchen knives you know, they'll pass on to their spouse.

The limit still sucks, you might think, but your clients are worth it (hopefully!)

The housing market is beginning to slow as rates are on the rise. If you are in the market to purchase it is important to re-assess the affordability of your next home so that you will not feel house poor. A recent poll by Homelight stated that 70% of people have at least one regret after purchasing their home with one of the top regrets being the underestimation of the total cost of buying a home. With rates even higher now the total cost of purchasing is increasing. So although the bank may qualify you for a certain loan amount be very aware of what that payment would do to your overall lifestyle. You may end up settling for a smaller home today but a good buy today could position you for a better spot in the future. I go into more detail in my blog post in the comments section.

Here is a recent blog post with some tax strategies.

Pay no tax with these 10 Strategies | Logos Financial Group Everyone is always looking to pay less tax and certainly not pay more than their share. Here are some ideas to keep in mind for your specific situation.

$1M+? Who's Going to Grow Your Business for You? High tax, no time, big revenue goals? FREE GUIDE