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We purchased and sent flowers for the funeral of an employee. Which Account should this fall under?
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I'd put it in Gifts. However, gifts are limited to $25 per year per individual. See IRS publication 463.
I'd put it in Gifts. However, gifts are limited to $25 per year per individual. See IRS publication 463.
Thanks . . . it was over $100
That was my opinion.
you should check with your accountant. They are in the best position to advise you.
A dead employee didn't get a gitft. Put this to Office Supplies.
Actually, publication 463 doesn't mention gifts having to be to a person who is alive. The gift can go to their estate. It also can go to the family of the employee.
check with your accountant on this. They are in the best position to advise you.
Use De Minimis Fringe Benefit Rules to Deduct Tax-Free Gift of Flowers to Employee.
How is this entered in QB?
We put it under "Other Business Expenses" if that helps you.
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