Wolff and Taylor November 14, 2017 No Comments Share
Small Business14 Nov
Donors in leave-sharing programs get a tax break. Generally, personal, vacation, and sick leave represent taxable income for employees. But the IRS just announced that employees who donate unused time off to an employer leave-sharing program to help victims of the California wildfires that began on Oct. 8, 2017, won’t pay income or payroll tax on the value. Employers then contribute the cash value of donated leave to disaster relief programs. Employers don’t get a charitable deduction, but they can deduct the amounts as business expenses. (Notice 2017-70)
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