Tips for Filing Taxes : Gambling Winnings Tax Tips

Tips for Filing Taxes : Gambling Winnings Tax Tips


Hi, Tom Choisnet, enrolled agent. I wanted
to add a little more on the business gift.
We talked about employment achievement awards,
and I wanted to break out a separate section
because it seemed to be a little loop as to
the business gift rule. So, I made some notes
here that I’m going to refer to. The employment
achievement awards have to do with length
of service or safety awards. They can not
discriminate to highly compensated much as
many of the pension rules. It requires a minimum
of five years service for them to qualify,
and then on top of that, the average of such
awards cannot exceed four hundred dollars.
It’s just a little loophole that can help
get around that twenty-five dollar per done
on that business gifts. So, I hope that’s
helpful and take a little look at some of
the other segments we have. You’ll enjoy the
clips. Thank you!

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