View our glossary of tax terms
Glossary Definition
Employers who recognize their employees’ achievements through a qualified employee achievement award program may be able to take a tax deduction. Awards given by employers to employees, whether paid in cash or property, are generally deductible to the employer and considered taxable income to the employee. But certain gifts of tangible personal property may qualify for exclusion from the employee’s income while still being deductible for the employer.
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