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

Week 2 – September 10th, 2024 Theme: FAQs to Assist U.S. Department of Education Grantees to Appropriately Use Federal Funds for Food, Conferences, and Meetings

Providing high quality services for the families we serve means also providing high quality meetings and incentives to our hard-working staff. Make sure you know what records you need to keep to satisfy OSEP and your auditors when it comes to offering meals or snacks at long staff meetings. You can learn more and find clear examples here: https://regioncptac.org/wp-content/uploads/2024/09/Frequent_Questions_ED_Grantees_Food_and_Conferences.pdf

Week 3 – September 17th, 2024 Theme: De minimis fringe benefits

Just like OSEP and other federal and state grantors allow a De Minimis indirect rate, the IRS allows for De Minimis Fringe Benefits. If you choose something allowable, keep clear records and follow a standardized process to substantiate need, you can still, occasionally incentivize your staff without taxation or reporting. Learn more about what is allowed here: https://www.irs.gov/government-entities/federal-state-local-governments/de-minimis-fringe-benefits

Week 4 – September 24th, 2024 Theme: Money and Trinkets Provided for Wellness

Food-related incentives are not the only things that can trigger an OSEP or audit issue. These days, wellness incentives and stipends are a typical employee fringe benefit. Tickets to sporting events, access to a wellness facility, and helping with premium health plan costs usually have to be taxed and reported as well. A few wellness items are completely allowable. Find out what is what here: https://ogletree.com/insights-resources/blog-posts/money-and-trinkets-provided-for-wellness/#:~:text=Taxation%20of%20Wellness%20Incentives&text=In%20most%20cases%2C%20wellness%20incentives,on%20a%20tax%2Dfree%20basis