If I send an employee, employee's family member, vendor, or customer a gift to celebrate an occasion, what is the business purpose and account?

ANSWER

The BIDaWIZ Team's Answer:

This type of gift would likely be characterized as a de minimis fringe benefit. This would not be reported as the value and the frequency with which it is provided, is so small as to make accounting for it unreasonable or impractical. De minimis benefits are excluded under Internal Revenue Code section 132(a)(4).