Quote:
Originally posted by Global Dialers
okay just checked on the irs site and it is below 10k
however i cant find out whether it is possible for the people that receive these gifts can put the funds back into a business and claim tax benefits of it anyone happen to know what thats called or if they do?
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I remember reading it was $10K which is not taxed by the recipient...after that, I think they can do anything they want with it, including investing it in a business and still use that expense to offset income from the business.