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I just found out about these. Too late now but would like to know the in's and out's of purchasing gift cards for employees. Also, are gift cards similar to Cash Advances where they are frowned upon or can I order them anytime and any amount offered?
I'd like to give at Christmas; maybe Thanksgiving as a bonus to help them begin their Christmas shopping or whatever. Idk, brainstorming... Also, are employee gift cards subject to tax? Like will they have to report as income?
@Anonymous wrote:
Yes, gift cards given to employees are considered a cash equivalent and are subject to taxation. The value of the gift card would need to be counted as income.
Okay, too bad....too bad. Thanks for replying.