Steer clear of executive-perk tax traps

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in Small Business Tax

A new IRS audit guide points out fringe-benefit issues that are ripe for abuse by execs, including club memberships, no-cost or low-cost loans and employer-paid vacations. The guide identifies which benefits are taxable (and to what extent) and what examiners should consider "suspicious" bookkeeping. Find the guide at www.irs.gov/businesses/corporations (click on Corporate Executive Compliance).

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