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Call in ‘sick’ for Sandy victims

by on
in Small Business Tax,Small Business Tax Deduction Strategies

Under a special IRS program, an employee may choose to donate amounts owed for leave time—sick, vacation or personal days—in ex­change for cash payments made by the employer to a qualified charity on behalf of Hurricane Sandy victims. This entitles the employer to a charitable tax deduction for the payments.

You have until 2014 to benefit from this tax break. (IRS Notice 2012-69)

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