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Taxes on Comps
I'm a pro and am concerned about reporting comps. I've never really gotten any decent advice on this subject. The best response I've heard is don't worry about it unless it's a car or something.
Do I have to report drinks, meals, clothing, magazines, gift cards, and other merchandise? Is there a set amount that it can be under and not be taxable? How would I determine the value of the comp? Please indicate if you are a tax professional or a fellow pro. Thanks |
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