Skip to main content

View Diary: No country for Zuckerbergs (193 comments)

Comment Preferences

  •  Limited (0+ / 0-)

    While meals and entertainment deductions are limited to less than 100%, it's not 0%. And those limits apply to meals and entertainment bought for clients and others not the corporation's employee. Employee living expenses, even a "per diem" daily cash handout, are not subject to those limits. Meanwhile the employee isn't eating and being entertained at home, for which they'd pay themselves, out of income from the corporation (and which would be taxed first as income). So those expenses aren't taxed at all, and the employee can demand less direct income from the corporation which would have been taxed.

    "When the going gets weird, the weird turn pro." - HST

    by DocGonzo on Sun Oct 03, 2010 at 09:32:23 AM PDT

    [ Parent ]

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site