During the current year, Paul, the vice president of a bank, made gifts in the following amounts:
|
To Sarah (Paul’s personal assistant) at Christmas |
$36 |
|
To Darryl (a key client)—$3 was for gift wrapping |
53 |
|
To Darryl’s wife (a homemaker) on her birthday |
20 |
|
To Veronica (Paul’s boss) at Christmas |
30 |
In addition, on professional assistants’ day, Paul takes Sarah to lunch at a cost of $82. Presuming that Paul has adequate substantiation and is not reimbursed, how much can he deduct?