Insights

We are proud to be named a West Coast Regional Leader for 2024

< Back to Insights and Resources

Unwrap the Fine Print: Essential Gift Card Tips to Maximize Your Holiday Giving

ARTICLE | December 06, 2024

Authored by Vasquez + Company


As the holiday season draws near, gift cards are a convenient and popular choice for gifts. However, they come with fees, expiration dates, and other limitations that recipients and givers should be aware of. The article "Unwrap the Fine Print: Essential Gift Card Tips for the Season" offers a comprehensive guide to understanding the various types of gift cards, their potential downsides, and how to avoid common pitfalls when giving or receiving them.

Key Points:

  • Popular Gift Cards: Prepaid and retail gift cards are common choices, but they may come with activation, maintenance, or shipping fees.
  • Unused Balances: According to a 2024 study, millions of dollars in gift cards go unused each year. Awareness of this can help you maximize the value of your gift cards.
  • Legislative Protections: Federal and state laws protect consumers from excessive expiration dates and certain fees, with many states offering additional safeguards.
  • Fee Awareness: Activation and inactivity fees may apply to various gift cards, so it's essential to read the fine print to avoid surprises.

For more information, read the full article here.

 

Our firm provides the information for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. This article is not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided “as is,” with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.

Let’s Talk!

You can call us at +1 213.873.1700, email us at solutions@vasquezcpa.com or fill out the form below and we’ll contact you to discuss your specific situation.

Required fields are marked with an asterisk (*)

Service(s) of interest*

Audit

Tax

Accounting

Bookkeeping

Business Consulting

Other

  • Should be Empty:

    • ​Vasquez + Company LLP has over 50 years of experience in performing audit, tax, accounting, and consulting services for all types of nonprofit organizations, governmental entities, and private companies. We are the largest minority-controlled accounting firm in the United States and the only one to have global operations and certified as MBE with the Supplier Clearinghouse for the Utility Supplier Diversity Program of the California Public Utilities Commission.

    For more information on how Vasquez can assist you, please email solutions@vasquezcpa.com or call +1.213.873.1700.

    Subscribe to receive important updates from our Insights and Resources.

    • Should be Empty: