When Home Business Owners Give Employees Gifts…
July 1, 2007 by Mary Emma Allen
Kelly, at Taxgirl, brought up an interesting point in her post, iPhone,uTax, concerning gifts from businesses to employees. She connected this information with Apple giving it’s employees free iPhones. However, those phones aren’t completely free come tax time. They’re considered compensation, and as such, should show up on the employees’ W-2’s.
If you have employees in your home business, and you give them gifts, you’ll want to read Kelly’s post, and if necessary, get additional information to see the specific details.