Should these “benefits” be added to personal income? What is the most appropriate way for a boss to give gifts to his employees?
It’s the end of the year again. Every year at this time, the bosses of small and medium-sized enterprises will think about how to accompany their hard-working colleagues to provide some benefits and earn some benefits. So today’s video will definitely give you a clear idea.
October 2020 is coming soon. At the end of each year, many companies hold annual meetings to summarize the year's achievements and commend some outstanding employees. So among all the rewards given to employees by companies, which ones are considered taxable benefits and which ones are not?
First of all, the tax law provides three definitions for the concept of gift: one is cash, which as the name implies, is giving cash and can be used to buy anything; the other is near cash, which was only recently defined. It is something similar to cash, such as a gift card, which you can use to buy anything you want in the store; and the third is non-cash, which is to give things directly, such as trophies, certificates, and movies designated for a certain date and show. tickets, or a tailor-made suit for you, or a small gift from the baby shower owner, etc.
Because the first type of cash is very clear and must be taxed, I won’t explain it too much. However, near cash and non cash have various forms of gifts in real life, and some of them belong to Some of the categories of taxable benefits are not, and some are within a certain limit. If it exceeds a certain limit, it will be counted as a taxable benefit. Therefore, in such a complicated situation, I plan to take Mr. Li’s preparation of giving rewards to employees at the end of the year as an example to explain it in detail. Let me analyze it with you.
