Skinnypop in the lounge may not last. Donald Trump targets office snacks.
The president’s signature tax law allows long-standing business deductions to expire in the cost of food provided to employees, undermining the workplace privileges that were popularized during the Internet boom in Silicon Valley, and the magazine is now a symbol of modern office culture. Now, well-stocked food pantry is a staple for Wall Street Banks.
U.S. companies that continue to offer office snacks, coffee or on-site lunches will be taxed after December 31, otherwise the deduction will be eliminated.
With the sprawling, nearly 1,000-page legislation moving in Congress, tax changes have attracted little attention and it is unclear how companies will respond.
spokesman Goldman Sachs Group Inc. offers employees a $30 stipend for “childhood” meals and offers a pantry that replenishes coffee and snacks, declining to comment on what the company will do at the end of the tax break. The same is true for the spokesperson Meta Platform Inc., another company known for its employees preparing to get free food and coffee. Alphabet Inc. spokesperson Google No requests for comment were responded.
Alaska’s fishing industry is far from Wall Street and Silicon Valley and is spared from its high-cost nose. Fishermen in the state won a carving to align Alaska Senator Lisa Murkowski’s support for the entire bill, and the vice president JD Vance was voted on by a tiebreaker.
There is no such luck for the lobsters in Maine, whose Sen. Republican Susan Collins did not vote for the legislation.
Restaurant It will also be able to deduct the cost of employee meals, a long tradition of kitchens and waiters. However, this will no longer be the case for most other employers, including factories and hospitals (many of them), many of whom also offer workers free or subsidized meals or snacks.
Deductions are expected to be levied on employers in 2034 at $32 billion according to Congressional Joint Tax Committee.
Free food has become widely entrenched in the workplace, and 44% of U.S. employers now offer free snacks, twice as much as they did a decade ago, according to a survey conducted by the Human Resource Management Association.
In recent decades, free office restaurants and cafes have been celebrated to encourage employees to work longer, boost morale and inspire creative collaboration through chance encounters. Google co-founder Sergey Brin has been widely lead When instructed his office designers to make sure no staff are more than 200 feet away from food.
Trump’s 2017 tax law cuts deductions on food provided by employers in half and plans to be lifted by the end of this year as the administration tried to reduce the budget impact of the law, when a series of breaks expired on December 31. New tax legislation signed by Trump on July 4 signed most of the time with the tax taxes scheduled, except for the elimination of Alask in office gigs, except for the Alask-dectrive and Offertal can Alaska.
Even though Year Inc. – says he doesn’t want to lose his business because of this.
He said the catering company lost no customers in 2017, when the deductions were reduced to 50%.
“It’s very bullet-free,” Sabetti said. “When you deduct taxes, the cost will go up, but the company will continue to spend, just like you deduct a deduction on your laptop.”
