Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Oct 29, 2019 10:19:08 PM

I am in IT consulting, to maintain relationship, I give out gift cards to my potential clients, how can I deduct this as business expense

My friend told me to put it in the 'entertainment and meals' category for 50% deduction, is this correct?

0 3 1472
1 Best answer
New Member
Oct 29, 2019 10:19:10 PM

I  am assuming you are self employed.

That being said, you would claim the gift cards as advertising and promotion.  You get to claim 100% rather than only half.

3 Replies
New Member
Oct 29, 2019 10:19:10 PM

I  am assuming you are self employed.

That being said, you would claim the gift cards as advertising and promotion.  You get to claim 100% rather than only half.

New Member
Oct 29, 2019 10:19:11 PM

Is this still relevant for 2016 returns?

New Member
Oct 29, 2019 10:19:13 PM

Yes.