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  • Jane
    #1

    Corp

    1120 Corp client has given gifts of $396 to leased employees - bestbuy gift cards etc. Please note that these are not client's employees as they lease them from a company.

    I think the rule is $25 gift per emplyee per year.

    Should I deduct all $396?

    Thanks

    Jane
    Tags: None
    • OldJack
      Banned
      • Dec 2005
      • 1689
      #2
      Generally a leased employee is considered an employee. I would deduct the full gift as the rule is outdated and I would let the IRS disallow it on audit. You got to let the IRS auditor have something to disallow so he/she can allow something else in dispute.

        Comment

        • Jane
          #3
          Originally posted by OldJack
          Generally a leased employee is considered an employee. I would deduct the full gift as the rule is outdated and I would let the IRS disallow it on audit. You got to let the IRS auditor have something to disallow so he/she can allow something else in dispute.
          Thank you.

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