Article Date:
July 2015

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Reward Yourself and Your Employees with Tax-Free Supper Money

Estimated tax tip savings. The supper money benefit gives you a 100 percent deduction for the cash that you give to your employees to buy food when they work overtime. This gives your employees a tax-free benefit and further proves that you’re a fantastic boss.


Working long hours can be a morale buster for your employees, particularly for exempt employees who get no overtime pay. Tax law gives you a benefit that could be a perfect solution to this problem: give your employees some tax-free cash, which makes them feel better and also makes you look good as the team leader.


This strategy creates value both for you and your employees!


And here is even better news: as a business owner, you’re an eligible employee under this helpful rule. That’s a nice thing to remember the next time you’re working late and feel your empty stomach begin to rumble.


To make this deduction work for you, you have to meet just four easy-to-follow ... Log in to view full article.

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