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No, lottery tickets given as a gift would not be deductible. However, they can be deductible, as long as the recipient is aware that it's considered a payment and must be reported as income.
Regardless of industry, gifts in the course of business are treated as payments. You can deduct the amount as contractor expense if the recipient is reporting it as income.
There are some exceptions for gifts under $25 to one taxpayer, in one year. Also, if the items are of small value and have your business logo on them, then they can be excluded too. See this info at the IRS: https://www.irs.gov/faqs/small-business-self-employed-other-business/income-expenses/income-expenses...
No, lottery tickets given as a gift would not be deductible. However, they can be deductible, as long as the recipient is aware that it's considered a payment and must be reported as income.
Regardless of industry, gifts in the course of business are treated as payments. You can deduct the amount as contractor expense if the recipient is reporting it as income.
There are some exceptions for gifts under $25 to one taxpayer, in one year. Also, if the items are of small value and have your business logo on them, then they can be excluded too. See this info at the IRS: https://www.irs.gov/faqs/small-business-self-employed-other-business/income-expenses/income-expenses...
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