Christmas Bonus

[Kae]

My sister worked at a bank at easter they got a Ham, At thanksgiving Turkey and at Christmas, they have a choice Ham, Turkey or Prime Rib-my sister was the only one that Picked Prime Rib at her Branch. they all come from a local butcher shop.

 

[sam_gordon]

I think for some the objection with the gift cards is not only that they don't use them, but the dollar amount is taxable income on something they don't use.

Maybe if it's given by the company. The GC I hand out come from ME. The company doesn't pay for them, therefore they're not taxable. If someone has that much of a problem getting a GC that can be used for gas, food, clothing, kitchenware, toys, etc, just let me know, I'll make sure not to give them one the following year. Pretty sure they can even be used online, and the store delivers.

 

[tvguy]

Maybe if it's given by the company. The GC I hand out come from ME. The company doesn't pay for them, therefore they're not taxable. If someone has that much of a problem getting a GC that can be used for gas, food, clothing, kitchenware, toys, etc, just let me know, I'll make sure not to give them one the following year. Pretty sure they can even be used online, and the store delivers.

Yes, it is given by the company.

FROM A GOOGLE SEARCH:
" According to the IRS, gift cards for employees are considered cash equivalent items. Like cash, you must include gift cards in an employee's taxable income—regardless of how little the gift card value is. "

 

[GreatLakes]

Yes, it is given by the company.

FROM A GOOGLE SEARCH:
" According to the IRS, gift cards for employees are considered cash equivalent items. Like cash, you must include gift cards in an employee's taxable income—regardless of how little the gift card value is. "

I think Sam is saying he is giving it out of his own pocket. I do the same with all my staff, both direct reports and their direct reports. I use my own money to give them all a gift card. That isn't given by the company, I am not reimbursed for it, it is a gift and not taxable.

I know everyone I give gift cards to personally so I get them one they'd like. Fortunately for me we all like to drink coffee so Starbucks gift cards it is. In the past I had a staff member that didn't drink coffee but was a member at REI and camped so that is what they got ,and REI gift card. If someone is sick, has a baby, or a death I give them either a grocery store gift card or food delivery based on the individual. One of my staff only eats food they make themselves, they don't ever eat out or partake in food at work functions, so they'd get a grocery store card. Others would get food delivery because I know how little most people want to cook at that time.

I think the actually good thing to do is give to each person something you know they would use because you know them as people or their direct manager knows them as people and you ask them.

 

[tvguy]

I think Sam is saying he is giving it out of his own pocket. I do the same with all my staff, both direct reports and their direct reports. I use my own money to give them all a gift card. That isn't given by the company, I am not reimbursed for it, it is a gift and not taxable.

Yes, I understand. Very generous,