There is a way to pay employees for meals when working over time as a tax free fringe benefit plus get a full deduction for your company. Plus this does not exclude the owner-employee from this fringe. To qualify for this the payment has to:1) Be occasional2) Enable the extension of the workday to include overtime3) Enable the employee to work overtimeIf these items are not met, the money becomes taxable compensation and must go on the employee’s W2.We can explore this further if you like.
Brian’s Personal Musings
Well we weren’t taken by the Rapture. In a way I am glad because we would never have gotten the result of the singing competition my daughter Kirsten was in with her middle school choir. The awards presentation started at 6:30 pm Saturday and ended about 745 pm. Her group not only won the mixed choir 1-AA middle school catagory but also captured the best middle school choir in the competition. It was a great night. We were at Magic Mountain after they competed (around 11 am) until after the awards presentation and finally got home about 9:45 pm. Sunday was definitely a day of rest. .
Brian’s Tax Musings
Will Congress raise the debt ceiling again. We reached the 14.294 trillion dollat ceiling approved by Congress last year – will not raising it destroy our country or just force us not to spend more? Here are two articles pro and con – you decide (personally, who knows what will happen, but if you max out a credit card, do you continue to get credit increases on it, or do you stop charging on it?)For raising the debt ceiling http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2011/05/19/ED931JHPP5.DTLFor not raising it http://www.foxnews.com/opinion/2011/05/17/simply-raise-debt-ceiling-unless-significant-cuts-attached-deal/