Your business may want to show its gratitude to employees and customers by giving them holiday gifts or hosting parties. It’s a good idea to understand the tax rules associated with these expenses.
Some Holiday Parties and Gifts are Tax Deductible
Tag: taxable income
Bartering for Goods and Services is a Taxable Transaction
During the COVID-19 pandemic, many small businesses may find bartering for goods and services instead of paying cash is beneficial for them.
Bartering: Beneficial Transactions but Taxable Income
Small businesses may find it beneficial to barter for goods and services instead of paying cash for them. If your business engages in bartering, be aware that the fair market value of goods that you receive in bartering is taxable income.