Description

Does anyone know, if I set up a money pool to collect the christmas gift fund for the employees of my building, can it be its own distinct cash account? It’ s going to be like $20K–gifts from owners to a fund to be divided among employees according to seniority. I’d rather not have that associated with any of my tax id’s if I can avoid it. But I’m not really wanting to spend money setting up a legal entity for this either. Just need a convenient way to gather and distribute a pool of money for 3-week period. The idea is that it not be a taxable event for anyone involved.