Most franchise owners assume gift tax is the recipient’s issue. In reality, Form 709 filing responsibility falls on the giver, and failing to file when business interests or trusts are involved can leave valuations exposed to future IRS challenges.

Sending holiday gifts to vendors, landlords, or referral partners feels like good business — until tax season hits. The IRS still limits the business gift deduction to $25 per recipient per year, a rule that hasn’t changed since 1962. For QSR franchisees and multi-unit operators, understanding how this outdated limit works, what documentation is required, and how to plan around it can prevent surprises and disallowed deductions at year-end.

You may not need to buy anything new to get a big 2025 write-off. By converting a personal vehicle to qualified business use, OBBBA allows up to 100% bonus depreciation of the allowable basis—especially powerful for heavy SUVs and trucks. This guide explains the lower-of-cost-or-FMV basis rule, luxury-auto caps, why Section 179 doesn’t apply, and the documentation you need (mileage logs, FMV support, conversion date) to capture the deduction cleanly.

Inherited IRA rules tighten in 2025: most heirs must take annual RMDs and empty the account within 10 years. Here’s what changed, who gets exceptions, and how to plan withdrawals to avoid penalties and tax spikes.