"Qualified" Service Award Program
Clare
24 Posts
It is my understanding that for a business to take a business deduction for the amount of a service award, the value is limited to $400, or $1,600 for a "qualified" plan. Can anyone tell me what is necessary to establish a qualified plan? Does anyone have a written qualified plan that they would be willing to share?
We give out watches for ten years of service and typically the cost is $5-700. Any help would be appreciated. Thanks!
We give out watches for ten years of service and typically the cost is $5-700. Any help would be appreciated. Thanks!
