Week 1 – September 3rd, 2024 Theme: Are Gift Cards Taxable to Employees?

Providing employees with a gift card for a cheap meal or a holiday coffee is a great way to show appreciation without spending very much. While it is not allowable with grant funds, it is with unrestricted money. However, it is STILL taxable income. Make sure you understand what and how to report to the IRS: https://www.eidebailly.com/insights/articles/2019/11/what-you-need-to-know-about-the-gift-of-gift-cards