“You get a car! You get a car! You get a car!”
Oprah Winfrey’s 2004 car giveaway is one of the most memorable moments in recent gifting history. With the holidays upon us, gifting will consume many of us. While most gifts will not be as extraordinary as Oprah’s, it really is the thought that counts. Conveying your appreciation with gifts is so exciting because it’s just as rewarding for the giver as it is for the recipient.
For small business and micro business owners, recognizing your, staff, clients, and vendors with gifts is a great way to show your gratitude for all they do. The same goes for vendors who want to show appreciation for their clients, and employees can use gifts to express thankfulness for fellow staff or the boss.
You don’t have to be a big company to offer gifts. In fact, did you know that large companies have cost restrictions on giving? In most cases, the price can’t exceed $25 (which is the IRS limit for a gift tax deduction, with limitations).
As your trusted cyber marketing partner, Iyobu offers 7 how to tips for business gift giving during the holidays.
- As a micro business, to convey your appreciation to clients most effectively, make the gift about the recipient and less about your business—this means no branded tchotchkes (they usually get tossed anyway).
- Personalizing the gift with your company logo should not be the overwhelming purpose of the gift—appreciation gifts are not a marketing activity.
- Be unique.
- Make it memorable.
- If you lead a team, consider giving the same gift to each team member. You might also consider a group gift, such as a large gift basket, but consider how touching it is to receive an individual gift with a special message, regardless of the size.
- It’s best to keep things on a level playing field by giving the boss a gift as a team. Determine an amount and ask for contributions. If you don’t think everyone can give the same amount, request anonymous contributions of whatever amount each person can give.
- If you receive a gift from a vendor, such as a large gift basket, share it with the office. Don’t take it home for yourself.
Iyobu has selected some unique gift ideas that will make your gift memorable and set you apart from others. Many are in a price range that will keep you within customary guidelines. These are also wonderful selections for family and friends when you’ve agreed on price limits for giving.
Remember that it’s all about the joy of showing your appreciation for the people in your life. Happy gift giving!
Note: Business Gift Tax Deduction
Business gifts are tax-deductible, with limitations. In most instances, the limit is $25 per person, per year.
We recommend you consult with the IRS or your tax expert.
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