With the 2017 Tax Cut and Jobs Act (TCJA), Congress chose to continue a tax exemption for tangible personal property that employees receive as rewards for safety or years of service. It’s a good time to review all your reward and recognition programs to make sure your organization is taking advantage of all the tax breaks available. Download the pdf to learn:
1. Which employee award programs qualify for tax exemption.
2. How the new law defines tax exempt personal property.
3. How award presentation methods can affect tax exemption.
4. How to keep awards from appearing like compensation in disguise.
No business leader wants award recipients to be surprised by taxes being taken out of their paychecks. No finance leader wants to find out the company is being taxed unnecessarily. This quick 2-page summary of the new Tax Law’s impact on employee recognition will put you on the right path to maximizing your recognition budget.
Your browser is out of date and may not be able to properly display our website. A list of modern browsers is below; simply click an icon to go to the browser's download page.