Al Hoffman
For Ashley Andrews and Murray
- Joined
- Aug 11, 2018
- Messages
- 987
- Reaction score
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Do the employer's compensations of room and board come before or after taxes?
I'm thinking there isn't a time clock at the dairy
Any employee expenses paid by an employer are deductible against gross income, and that reduces the business' tax burden.
Yes, I believe a stipend for "free" quarters provided could be added to the employees income reported to the IRS, to inflate employee labor costs. Any costs to maintsin the property are also deductible. Time clock not needed if signed time sheets kept, even if just computer print out signed when employee picks up check, and even that may not be necessary. There were assignments when I never saw a time clock or signed a time sheet as an hourly employee.
I am not an accountant nor a tax attorney, and would not be caught drinking with either if I could be seen by friends who matter!
JMOO