Question: Indicate whether the following statements are True or False regarding business gifts. a . Business gifts are subject to the 5 0 percent cut -

Indicate whether the following statements are "True" or "False" regarding business gifts.
a.Business gifts are subject to the 50 percent cut-back adjustment.
TrueFalse
b.Gifts to superiors are not deductible.
TrueFalse
c.An exception to the annual gift per donee limitation is made for gifts costing $4 or less or promotional materials.
TrueFalse
d.The annual limitation on business gifts can be circumvented by having the donor's spouse join in the gift.
TrueFalse

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