A gift or award that you give an employee is a taxable benefit from employment, whether it is cash, near-cash, or non-cash. However, there is an administrative policy that exempts non-cash gifts and awards in some cases.
Cash and near-cash gifts or awards are always a taxable benefit for the employee. A near-cash item is one that functions as cash, such as a gift certificate or gift card, or an item that can be easily converted to cash, such as gold nuggets, securities, or stocks.
A benefit in...Read Full Post »