Save Money and Improve Employee Health with Tax-Deductible Gym Access! ๐Ÿ’ฐ๐Ÿ’ช - Palma Financial

We know that the health and well-being of your employees are important to you. That’s why we’re excited to announce that you can now boost your employee’s health while also getting tax benefits!

๐Ÿ’ช๐Ÿขย Pump Up Your Business: Tax-Deductible Gym Access for Your Employees ๐Ÿ‹๏ธโ€โ™€๏ธ๐Ÿ’ฐ

You can improve your employees’ health and well-being by providing access to a gym facility and receiving tax benefits.ย A gym or athletic facility can be tax-deductible for a business if it primarily benefits rank-and-file employees and their families.

But how do you ensure that the gym facility passes the 51-49 test?

Our experts recommend tracking the usage of the facility. If your rank-and-file employees and their families use the gym or athletic facility for 220 days during the year while you and your family use it for 120 days, then the facility would pass the 51-49 test.ย It means it’s tax-free to the users and deductible to the business as an employee recreational facility.ย ๐Ÿ’ฐ๐Ÿ‘

Not only does helping gym access your employees stay healthy and reduce stress, but it can also increase productivity and job satisfaction.ย Investing in your employee’s health and well-being is an investment in the future of your business.

So, what are you waiting for?

Start exploring your options andย book a tax assessment with us today!ย ๐Ÿ“ˆ๐Ÿ’ช