A Guide to Work Parties
Planning a work party can be a great way to build morale and team spirit in the workplace. Here are some tips for how to make the most of your event:
Set a budget. Make sure to include all costs, such as food, beverages, decorations, and entertainment. And did you know that you can write off 100% of this expense up to six times per year? Otherwise, it’s just the typical 50% write-off.
Stick to work hours. Typically, we like to recommend keeping work at work. This ensures that you’re not slowly creeping into your employees’ time off. Or, give them time off the following business day.
Celebrate small businesses. Pick a restaurant or caterer that is local to you.
Activities. If you ask us, it’s hard to find something to satisfy everyone so this really depends on the event or party you’re hosting. Is it more networking and you’re inviting other people? No need for games. Is it just company celebrations? Maybe you’re all good with sitting and chatting over dinner or lunch. Consider what your employees like - or don’t like - doing.
Finally, don’t forget that you can write off 100% of these costs up to six times per year. That means you can have some good events and celebrate your employees on the regular. Make it happen.
Do you have questions about business expenses? Book an “Ask a Bookkeeper” session!