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Turkey Day Tax Trivia

Posted on November 24, 2010 by Leasa Magnuson in Business Tax

The IRS has determined that employee benefits that are small and unreasonable or administratively impractical to account for are De Minimis Fringe Benefits. Examples are coffee & donuts, flowers, occasional typing of personal letters by a secretary and a turkey! So go ahead and give your employees a turkey for Thanksgiving! You won’t need to include it in their W-2 and they will think of you tomorrow as they eat their bird.

Enjoy your holiday from all of us at SMS CPAs!

De Minimis Fringe Benefits

One comment on “Turkey Day Tax Trivia”

  1. Tweets that mention Turkey Day Tax Trivia | Spangler, Magnuson & Signorelli CPAs -- Topsy.com says:
    November 24, 2010 at 10:26 am

    […] This post was mentioned on Twitter by Jody Padar , Leasa Magnuson. Leasa Magnuson said: New blog post: Turkey Day Tax Trivia http://www.nococpas.com/blog/2010/11/turkey-day-tax-trivia/ […]

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4025 Automation Way #D1 (Map), Fort Collins, CO 80525 - Phone: 970-226-4686