The IRS has some good news for you.
You read that right. Some good news from the IRS and here it is…
Under the “de minimis” fringe-benefit rules, your business can deduct the cost of giving you and/or your employees, flowers, fruit, books, or similar property. And recipients get these gifts tax free!
Want to learn more about the regulations that govern these de minimis fringe benefits?
Look no further than my new article titled Tax Tips: Flowers, Fruit, Books: Tax-Free Fringe Benefits You Have to Like!
Three ways our fact-filled article can help you:
- You’ll learn how often you can give these de minimis gifts and how much you can spend on them. For your business to enjoy this fringe benefit tax free, it must meet two important requirements. The gift items can’t be worth a huge amount and can’t be made too often. How much is too much and too often? You’ll find out when you read the full article.
- We’ll tell you which forms of business entities are eligible for this neat fringe benefit. Do you operate as an S corporation? A C corporation? Or maybe as a proprietorship? Want to know if Uncle Sam is willing to cut you a break and let you make de minimis gifts? Easy. All you have to do is read the full article.
- We’ll explain why your employees and you can all benefit, big time. De minimis gifts aren’t just a nice benefit for your employees. They’re great for you too. Is it your birthday? Send yourself a beautiful fruit basket. It’s tax free and deductible to your business. We’ll give you all the details when you read the full article.