Do You Know The Tax Benefits Of Recognition?
The 2010 planning season is here and it’s a great time to implement or re-energize your employee achievement programs. This past year, budgets were slashed, corporate events were cancelled, employee perks are limited, and due to downsizing or reorganization you might be asking employees to work harder than ever. Let’s face it, morale is dead.
Did you know, an employer can deduct up to $400 for employee achievement awards provided to any single employee during a 
qualified recognition awards program initiative during that tax year.
Companies who implement recognitions strategies throughout their organization yield higher performance, retention, and safety levels versus those using other forms of incentives. The IRS recognizes the value of employee achievement recognition and makes, specific allowances. Email me at sonyabeam@thepopshop.com and I will be glad to send you an attachment with more information regarding IRS deductions for employee achievement awards.
As always, check with your accounting and finance departments regarding the use of deductions in your company. Ready to start planning? Check out some of our information on incentives.