"Seth" <sethb[at]panix.com> wrote
- quote -





You read correctly.


What you have to do though, is make sure that the rule the company puts in
place is the same for every employee. So the owner's wife or kid can't be
pumping iron while the janitor's wife is locked out.




--
Paul A. Thomas, CPA
Watkinsville, Georgia

--
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In article <gc97la$5bi$1[at]reader1.panix.com> ,
Arthur Kamlet <-To[at]panix.com> wrote:
- quote -

That would seem to agree with my position: there's no requirement that
spouses or children be permitted, but rather a statement that the IRS
won't disqualify a deduction if they are.

Seth

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In article <gc95jd$1ev$1[at]reader1.panix.com> , Seth <sethb[at]panix.com> wrote:
- quote -


Page 7 of IRS Pub 15b, says:

Athletic Facilities

You can exclude the value of an employees use of an
on-premises gym or other athletic facility you operate from
an employees wages if substantially all use of the facility
during the calendar year is by your employees, their
spouses, and their dependent children. For this purpose,
an employees dependent child is a child or stepchild who
is the employees dependent or who, if both parents are
deceased, has not attained the age of 25.
--


ArtKamlet at a o l dot c o m Columbus OH K2PZH

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In article <hsbFk.41904$kh2.40650[at]bignews3.bellsouth.net> ,
Paul Thomas, CPA <paulthomascpapc[at]bellsouth.net> wrote:

- quote -

Is it really a requirement that spouses and children be permitted to
use the facility?

- quote -

That seems to imply that use by spouses and children is not prohibited
by the IRS.

Seth

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On Oct 2, 2:59 pm, "Paul Thomas, CPA" <paulthomascp...[at]bellsouth.netwrote:

- quote -

There might be tax credits from the city, though I doubt it, so better
check there as well.


- quote -

At my company, the spouse can use the gym, but they have to pay an
additional fee. It's free for employees.

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"Chris Ruehrwein" <cruehrwe[at]mathworks.com> wrote
- quote -




No tax credits per se. The costs of operating them are deductible by the
business of course.

The value of using the fitness center is not income to the employee because
it's a tax-free fringe benefit if certain conditions are met. Namely all
employees, their spouses and children must be allowed to use the facility,
and the general public can not. Other restrictions are in place. See
Regulation 1.132-1(e).

If you're talking serious bucks here, and not a bow-flex for the corner of
the break room, talk to your corporate accountant about this, who gets to
use it, when, and how the expenses are deducted (equipment would be
depreciated).





--
Paul A. Thomas, CPA
Watkinsville, Georgia

--
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Can a public/private company get a tax credit for suppling a fitness center
at the workplace?

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