Americans may be losing some work perks this year. Here's why

Core Insights - The recent tax and spending package signed by President Trump has altered corporate tax deductions, impacting workplace perks and benefits offered by companies [1][2][3] Corporate Tax Changes - Companies must now meet a 1% threshold before claiming charitable deductions, with a cap of 10% of taxable income for deductions [4] - The new charitable deduction rules are expected to generate approximately $16.6 billion in federal tax revenue over the next decade [4] - The elimination of deductions for bike commuting and moving expenses has been implemented, affecting how companies manage employee benefits [13][15] Impact on Corporate Giving - There is concern that the new tax rules will lead to a reduction in corporate charitable giving, with an estimated average annual decrease of $4.5 billion [5] - The 1% floor for charitable deductions may penalize companies with lower levels of philanthropy, potentially discouraging them from increasing their donations [6] Employee Benefits Adjustments - The business deduction for food provided to employees has expired, leading companies to reconsider offering food perks [10] - A survey indicated that 44% of companies provided free snacks, and 78% offered free coffee, but the elimination of deductions could raise over $32 billion in additional taxes on employers through 2034 [11] - Despite potential cutbacks, large companies may maintain food offerings due to their positive impact on employee productivity [12] Conclusion - The changes in tax deductions are prompting companies to reevaluate their employee benefits and charitable contributions, with significant implications for corporate philanthropy and workplace perks [1][5][10]