Deducting Promotional Products

Business By shanasweets Updated 30 Dec 2009 , 10:52am by myslady

shanasweets Posted 30 Dec 2009 , 1:23am
post #1 of 2

How do you guys account for your promotional items for tax purposes. Example i want to take a cookie bouquet to my dentist. I am already deducting cost of supplies. So can i deduct my time. I did not think i could deduct the total I would normally charge, because then I would deducting ingredients twice. Hope this makes sense. Thanks for the help.

1 reply
myslady Posted 30 Dec 2009 , 10:52am
post #2 of 2

It would probably fall under advertising expenses. However, you cannot deduct the cost of supplies and then your time as a separate expense.

Are you giving the bouquet to your dentist or your dentist office? - if you give it to your dentist, it may be considered a business gift and there is a limit of $25 per year.

Just to be sure, you should follow up with a tax accountant or the IRS.

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