Nov 29, 2005 -- Donate your unused vacation to hurricane
Employers are allowing employees to donate their sick time and vacation time to Hurricane Katrina victims, thanks to a recent IRS decision. The employer doesn’t get any kind of benefit, aside from a rewarding feeling. The employer gets a tax break, though, so you may start to see more about it. The program is available in 2005 and 2006. Clark thinks it’s a great idea because the average full time employee fails to use eight days of vacation or sick time each year. And, in most companies, if you don’t use it you lose it. So, look into whether you can donate the time. It may be used for hurricane help or some other cause. In addition, if you’re extremely wealthy, there is a special provision that waives limits on donations to the hurricane relief. So, you can donate as much as you want. Just make sure you check with your CPA before doing so.
In other news, employers are now charging people more for health insurance if they have unhealthy habits. People must take a health assessment and employees are docked pay until they fill it out. The companies also spit back out an action plan to help you get healthier. Northwest Airlines, for instance, has implemented a surcharge for employees who smoke.
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