Payroll dept. banquet excise?
im starting payroll for a restaurant and the owner pays them a so call banquet due, is that a speculation for the owner and is it considered wages for the hand?
Answers:
The lone meal tariff that I know of is what the restaurant charges it's customers and afterwards pays that to the state. Never hear of a meal import tax one compensated to the human resources. Does the owner penny-pinching "tips" instead?
Thank you for the e-mail clarification. Here's the info from the U.S. Master Tax Guide.
Meals that are excludable from an member of staff's income underneath Code Sec. 119 are considered a de minimis fringe benefit lower than Code Sec. 121. If more than one-half of the workforce are furnished meal for the convenience of the employer, adjectives meal provided on the premises are treated as furnished for the convience of the employer (Code Sec. 119(b)(4)). Therefore, the meal are fully deductible by the employer, instead of possibly one subject to the 50% put a ceiling on on business suppertime deduction, and excludable by the human resources.
http://www.irs.gov/businesses/small/arti...
Rules for employer providing meal and lodging - source IRS
Yes, we are an accounting firm and yes we also do payroll.
BC Business Services, Inc.
http://www.bcbsinc.com
Can anyone bequeath me any information roughly motor and excise?
I enjoy a cross-examine almost taxes?
If I receive married 9/07 & database my matrimonial license within 1/08, do I enjoy to directory income toll as married??
How do i lessen my excise bill!??
I own beem busted for buying cigaretts from the indians duty free. is nearby any point i can do .?
Answers:
The lone meal tariff that I know of is what the restaurant charges it's customers and afterwards pays that to the state. Never hear of a meal import tax one compensated to the human resources. Does the owner penny-pinching "tips" instead?
Thank you for the e-mail clarification. Here's the info from the U.S. Master Tax Guide.
Meals that are excludable from an member of staff's income underneath Code Sec. 119 are considered a de minimis fringe benefit lower than Code Sec. 121. If more than one-half of the workforce are furnished meal for the convenience of the employer, adjectives meal provided on the premises are treated as furnished for the convience of the employer (Code Sec. 119(b)(4)). Therefore, the meal are fully deductible by the employer, instead of possibly one subject to the 50% put a ceiling on on business suppertime deduction, and excludable by the human resources.
http://www.irs.gov/businesses/small/arti...
Rules for employer providing meal and lodging - source IRS
Yes, we are an accounting firm and yes we also do payroll.
BC Business Services, Inc.
http://www.bcbsinc.com