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Most smart businesspeople know the benefits of giving gifts to clients and employees. Not only do gifts show recipients that they're appreciated, but they can serve as lasting reminders of your company's goodwill.
According to a semiannual gift-giving study from American Express, small businesses spend an average of $5 billion each year on holiday gifts for clients and employees. The survey, the OPEN Small Business Network 2003 Semi-Annual Monitor, also found that 41% of business owners planned to send out holiday gifts in 2003.
But with nearly half the business world showing their appreciation during the holiday season, you may wonder what your company can do to get noticed in the crowd. First, you can take a look at the various products over the next few pages. We've gathered a variety of gifts to fit nearly any function - whether you're looking to thank employees, top clients or even your entire client base. They're sure to stand out among the deluge of holiday wishes people receive at this time of year.
Next, consider the following when considering your holiday-gift plans:
- Avoid religious-themed gifts unless you are completely sure that your audience practices that faith.
- Wine and champagne make great gifts, but it's best to reserve alcoholic gifts for clients who you know will appreciate them.
- Food gifts are always popular choices - they're something that everyone in an office can share.
- If you're unsure about sending gifts during the religious holidays in December, try sending them for Thanksgiving or New Year's instead. It'll help you avoid potentially awkward situations as well as the holiday clutter. (Check "Day Tripper" in this and every issue of Imprint for more holiday gift-giving opportunities.)
- Don't forget the wrapping. Much of the excitement in receiving a gift stems from the desire to open it. The right packaging can make a great gift even better.
- Think about how you want your company's gift to be used: Would you like the recipients to always have something on their desks as a constant reminder of your message? Or, would you prefer themed items that they can display every year during the holidays?
- Collectible items, such as ornaments, pins, clocks, etc., are ideal for continuity-based programs where you send out related items to the same recipients year after year.
Finally, give your promotional products consultant a call. He can help fine-tune your objectives, implement your message and set up a successful program using one of our featured products, or help you find something else appropriate for your company and message.
Whatever you decide, your clients and employees are sure to appreciate the gesture and will remember your well wishes for years to come.
Karen Akers is associate editor/multimedia of Imprint.
They're The Tops! |
| According to the OPEN Small Business Network 2003 Semi-Annual Monitor from American Express, the most popular business gifts in 2003 were: |
18%
cards or calendars |
8%
food or fruit basket |
8%
retail or restaurant gift certificates |
The Holidays Can Be Less Taxing |
The IRS allows businesses to deduct up to $25 per recipient for business gifts. So, if you haven't taken advantage of your allowance for this year, the holidays are the perfect time to do it.
From U.S. Chamber's Online Small Business Center:
The IRS will let your business deduct only $25 or less for business gifts you give to any one person ("donee") during your tax year. This means that any number of your employees, co-owners or business partners may give a client business gifts. However, the deduction will be limited to $25 per recipient. Any amount in excess of $25 is disallowed as a deduction. So, if you give a client a $50 watch as a gift, you can only deduct $25.
The $25 limit for business gifts doesn't include incidental costs - for example, packaging, insurance and mailing costs, or the cost of engraving jewelry.
The following items are excepted from the $25 limit as business gifts and their cost is deductible without limitation … items that cost $4 or less, have your name clearly and permanently imprinted on them and are one of a number of identical items you widely distribute.
Please refer to IRS Publication 463 and consult your tax professional for more information. |
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