Are Team Building Events Tax Deductible?

Just in case you did not know or probably forgot about the technicalities, team building events are tax deductible! Yes, you read it right. So, if you've been putting off that anticipated company event for years, this is your sign to make it work and just deduct the cost during the tax season. Count on Feet First Events to level up your team connection without blowing your budget.

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How Much Do Corporate Team Building Events Cost?

Let's get this straight. Team building event costs depend on many factors. How many people are attending? How long will your event last, and what do you want to do? Of course, smaller gatherings and half-day events will be less expensive than large gatherings and full-day events.

We know what you're thinking — because team building events are a tax deductible benefit, your opportunities can be much grander without paying as much out of your company's pocket!

Just don't forget to document your expenses to claim tax deductions and make the tax season a lot easier for you and everyone else involved. Save receipts, invoices and other records that showcase the event's date, amount and purpose.

Discovering Why Team Building Rocks

Since team building events are tax deductible, you can deduct up to 100% of the cost! Make the most out of activities that boost employee skills and promote team collaboration to claim tax deductions and reduce your tax liabilities. You can also create an employee achievement award program with up to $1,600 in tax-free yearly awards!

While a tax deduction is a nice benefit of a team building event, there are a whole host of other great reasons to get your group together:

Keep everyone on the same page to achieve amazing results
Make work a lot more fun and productive for employee satisfaction
Build trust for increased employee retention
Boost morale by having everyone together in a shared experience

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Sparking Creativity and Saving Money With Feet First Events

Let our team do the hard work so you don't have to. At Feet First Events, we provide creative and fun solutions to connect team members across your company. Whether it's igniting creativity through Lego building or unleashing competitiveness with thrilling scavenger hunts, we got you! If you have team members all over the world, we bring out the fun through virtual escape rooms and game show-inspired activities. Trust us to adapt games and events to fit your work style, either in-person or remotely!