Gift card Prizes

Discussion in 'Accounting and Taxes' started by Keval Kapadia, Dec 9, 2016.

  1. Keval Kapadia

    Keval Kapadia
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    As a business owner, I give out gift card prizes to my employees for reaching performance goals. Is this a simple expense I don't have to pay taxes on? ...or do I have to pay payroll tax on them, etc? Do the employees have to pay taxes on them and/or count them as income? As an employer do I have to inform them or provide anything to them in relation to this?
     

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