How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Megan C Your Own Question
Megan C
Megan C, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 16580
Experience:  Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
Type Your Tax Question Here...
Megan C is online now
A new question is answered every 9 seconds

Also, we plan to send wines ($120 bottles * $50.00= 6.000.00)

This answer was rated:

Also, we plan to send wines ($120 bottles * $50.00= 6.000.00) to our parent company as company-wide gift. In company-wide gift, can we fully deduct instead of 25 dollar limit rule? If 25 dollar limit rule should be applied, can we deduct $25.00 per bottle?

MyVirtualCPA :

Thanks for asking your question! I'm sorry to hear about your tax issue and I'm going to try my best to help you understand or resolve it.

MyVirtualCPA :

You can deduct $25 per person

MyVirtualCPA :

So if one person gets one bottle, you can deduct $25 for that bottle

MyVirtualCPA :

If one person got two bottles, you would only be able to deduct $25 for those two bottles

MyVirtualCPA :

Is there anything else I can assist you with today ?? If not, please rate as 'excellent ' so that I may receive credit for assisting you today


thank you!

Megan C and other Tax Specialists are ready to help you
Thank you for the positive rating. If you ever need another question answered please just let me know. It was a pleasure working with you and I hope you have a great day.

Thanks again