Do you or your employees use all of their paid time off, like vacation or sick days? In general, Americans only use about half of their paid time off (51% as per a poll by Harris Interactive). Instead of letting it build up forever you can actually use special IRS rules for “leave-sharing” programs to assist the victims of disasters like the Louisiana, Florida, or other hurricanes.
“Leave-sharing” programs allow your employees to “donate” their paid time off to specific charities that are dedicated to helping the victims of those storms. Your company makes the donation, but it is counted as a business expense and your employees don’t have the amounts included on their W-2 forms.
Make sure that you know all the rules about these programs before you try to implement one by contacting us for assistance.