12-08-2020, 02:01 AM
Section 139 (Disaster Relief) Anyone with more info
submitted by /u/ghost3737
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I was planning on giving my employees some Christmas bonuses this year.
I came across section 139 and it appears that it would be more beneficial to declare it as an emergency relief assistance to avoid taxes
It looks like the rules surrounding this are very loose, and since the pandemic is affecting just about everyone it is allowable.
Anyone using this to their advantage? I'll definitely be discussing with my CPA first when I meet with him, but figured I'd see if anyone here has knowledge/experience regarding this
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