3 Incentive Myths

Myth 1: Gift certificates don't have to be taxed since they're not cash.

The IRS tax code section says that gift certificate or debit cards are generally not excludable “even if the same property or service acquired (if provided in kind) would be excludable.” That's why Toyota spends $1 million on Sears gift certificates each year and then pays an additional $920,000 in income taxes so the$1 million will not have to be taxed to employees.

Myth 2: As long as you k

Register to view the full article

Register for MeetingsNet.com and gain access to premium content including the CMI 25 Listing, our monthly digital edition, the MeetingsNet app, live and on-demand webinars, and much more.

Already a member? .

Hide comments


  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.