Why I can’t buy my employees lunch
Hey Captain Matt here, just wanted to tell a quick story about a conversation I had with my accountant. So this is the craziness of New York State and and tax law and all that, so we used to try to buy people lunches when they were working you know 12, 16 hours a day for us and then my accountant called me and said “hey matt, you got to stop buying lunch for these guys you’re buying it too often” because he said if I buy it too often then it becomes an expectation, and if my employees are getting the expectation of it then it’s considered a benefit, and if it’s a benefit then I have to pay payroll taxes on it, and the employees have to claim it as income so they would have to pay taxes on the lunch that I was buying them. So we did away with that obviously because it just makes more work on the employees and it’s just insane. So anyways I just wanted to share a little tip of something that I didn’t know until a few years ago when my accountant told me, and right now with looking at things that just made me think of it, I wanted to share that with you guys. Alright Captain Matt out, I’ll talk to you soon.