Employers Can Deduct a Smoking Cessation Program as a Business

question 12

True/False

Employers can deduct a smoking cessation program as a business expense,but employees do NOT get any tax benefit.(WellnessPrograms)

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Definitions:

Bond Payable

A long-term debt instrument issued by a company, promising to pay the holder a specified amount of interest over a set period and to repay the principal on the bond's maturity date.

Long-Term

Referring to assets, liabilities, or investments that are expected to be held or mature in more than one year.

Interest-Bearing Note

A promissory note that comes with the agreement to pay the holder a fixed amount of interest over a specified period until the principal amount is repaid.