the service is only available to employees and not the general public There are specific rules for each situation, so if you're looking for a more precise answer to your circumstances, consider looking at theCanadian Government’s outlineon determining if a benefit is taxable. Calculating the Va...
Technically most gifts given to employees (including Kudos Rewards) are considered taxable benefits. That means that they are considered additional income, and the value of the reward should be included in your employee's year-end tax forms. But ultimately, this is at the discretion of your fin...
You might decide to distribute gift cards to your employees. But before you start doling them out, you need to know …. Are gift cards taxable? First, the technical stuff This IRS has rules on employee gifts and benefits, like gift cards. A gift card, or gift certificate, is a type ...
He's made it his mission to hire and retain the best employees in the industry, and he's heard that a good way to do that is to offer benefits to his employees. However, he's also heard that there might be tax implications for offering certain benefits. What should he do?
Selling Donated Merchandise: When a business sells merchandise that the exempt organization receives as gifts or contributions. For example, thrift shop operations of exempt organizations would normally be excluded. Bingo: Certain bingo games are not considered to be unrelated to trade or business. ...
Financial Gifts Any financial gift you give to another person without receiving something in return that’s at least of equal value is tax-free income. However, there is a limit to the gift tax exclusion. It’s $18,000 in 2024, while it was $17,000 in 2023. ...
A company can claim an Accelerated Capital Allowance (ACA) of 100% for the following: energy-efficient equipment including electric and alternative fuel vehicles; gas vehicles and refueling equipment; and equipment in a creche or gym provided by the company to its employees. The ACA can be claim...