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Facts and Figures - Timely points of particular interest
*Tax Wrapper on Gifts-If your company gives small holiday gifts to employees, they may be exempt from tax as de minimis fringe benefits. Reason: It's impractical to value the gifts. But there is no official dollar limit on this tax break. Example: In a new private ruling, a firm did not impose any tax on gifts it valued at less than $50. But the IRS said the firm could not use a plan with this arbitrary limit to determine tax-free fringe benefits.
*Expanding Workforce-How can you smooth out the transition when you acquire a new company? Before the ink has even dried, establish an integration plan addressing everything from titles and business cards to strategic development. Make the newcomers feel welcome and part of the group. Finally, remember consolidation takes time.
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