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  • Re: Accounting Question
    • (Login joeyea)
      Posted Dec 4, 2004 10:48 AM

      No. First, the IRS limit for business gifts is $25 to any one person. And second, the the IRS considers it income to you regardless of how you feel about it. Even if you were a real employee, they must include their holiday bonus (with the exception of the $25 gift)in their income and it's subject to taxes and withholdings and it appears on their W-2 form. Sorry.
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