You’ve probably been seeing holiday decorations and lights since just after Halloween, but now that we’re past Thanksgiving, there is no denying that the winter holidays are right around the corner. During this season, businesses often want to extend a holiday bonus to their employees as a gesture of gratitude for the work done during the year. Of course, whether that bonus is monetary or a physical gift of some sort is up to the company. But there are some guidelines that yo

It’s the holiday season, which means employees in many companies may be receiving a holiday bonus! So, what are the tax implications? Per Internal Revenue Service (IRS) guidelines, all bonuses issued via check/direct deposit or in the form of gift card (cash equivalent) are considered supplemental taxable wages. Additionally, holiday bonuses are considered discretionary, and therefore do not need to be included in overtime pay calculations for non-exempt employees. For bo