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!
[…] 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/ […]