Employee reward taxation depends on the type and value of the employee reward that is granted. Rewards that benefit the employee directly such as cash, merchandise, gift cards, or trips, etc., are usually taxable. An example of this is a performance-related award, such as a bonus.
Grab this PDF for general guidelines that you can apply to your Blueboard rewards tax and accounting processes.
Neither Blueboard nor its people are tax experts. We do not provide tax advice. All tax related matters are the responsibility of the customer and customers should seek their own tax experts for all tax advice. Employee experience rewards have an inherent cash value which the IRS can consider as compensation, making them generally taxable. However, there are some exemptions, which we’ll explore at a high-level below.
From planning guides to client success stories, webinar recordings to ebooks, we've got a suite of recognition resources to spark your imagination.
Based on our work with hundreds of organizations across industries and our unique experiential approach, this workbook will walk you through key questions and considerations to help you build a sustainable culture of recognition.
How to improve employee retention through meaningful recognition programs as we navigate the shift to hybrid work.
Learn how health insurance provider Avēsis recognizes and appreciates employees' work anniversaries, wellbeing, and impact with experiential rewards from Blueboard.
Connect with our team for a personalized demo of our recognition and rewards platform and see our hand-curated experience menus.Let's talk