Hailing all coffee drinkers – you’re gonna like this! …
Well if you love coffee like I do, I have some good news. In the Thursday 7/13/2017 California Section of the LA Times, under the “Science File,” was an article written by Karen Kaplan entitled: “Brewing Up a Longer Life.” The sub-heading read: “The more coffee consumed, the lower the risk of early death, two big studies say. Ditto for decaf.” Yahoo! Well, as if I did not already drink enough coffee, based on this news I am ready to “double down!” “Hey bartender, how about a double expresso in a dirty demitasse cup …”
Here is a link to the LA Times: article written by Karen Kaplan
Now, how about a “demitasse of tax law:” Generally, the Internal Revenue Code allows taxpayers to exclude gifts from gross income. However, this exclusion does not apply where the transfer of property is between an employer and an employee, unless the employee is the natural object of the employer’s bounty. In that case, the transfer can be considered a gift “if the purpose of the transfer can be substantially attributed to the familial relationship of the parties and not to the circumstances of their employment.” Cash gifts from an employer to an employee generally are treated as includible income without regard to the amount of the gift. On the other hand, traditional birthday or holiday gifts of property (not cash) with a low fair market value, occasional theater or sporting event tickets, COFFEE and donuts, soft drinks, flowers, fruit, books or similar property provided to employees under special circumstances, for example, on account of illness, outstanding performance, or family crisis are not included in gross income.
So, the COFFEE at your place of work is not includible in gross income! Ain’t that something! More good news about COFFEE!!
Drink up!
