Are you giving holiday gifts to employees this year? Generally, gifts of relatively low value, such as a traditional turkey or ham, are “di minimis” benefits that are exempt from tax. On the other hand, the IRS says that gift cards are not excluded as di minimis benefits, regardless of the amount. So employees can buy whatever they want, but they have to pay taxes on this perk.
We’ve been with Glass & Company for a number of years now and I can’t imagine working with anyone else. Their team consistently provides invaluable accounting and consulting guidance and I have a great deal of confidence in the advice we receive. They are true professionals, have overwhelming knowledge of our industry and are readily available whenever we need them. ”
– Case Fischer, Fischer & Wieser Specialty Foods, Inc.