Hope everyone is having a good tax season.
1. I have a realtor client that wants to buy movie and baseball tickets to his old clients. Is this considered business entertainment, which will not be tax deductible? Alternatively, can we classify it as business promotion or gift expense?
2. I also have another client that spent over $10,000 on gift cards and each one is over $25. Can this be considered business promotion expense, or they have to be gift expense and subject to $25 limitation per person?