Yes, but keep in mind that the value of the gift cards must be reported as wages. The IRS has a provision that allows for non-taxable "De Minimis" gifts, which allows an employer to buy an employee flowers to celebrate an achievement, occasional sporting event...
Payroll
IRS Announces 401(k) and IRA Limits for New Year
The Internal Revenue Service has announced that the amount individuals can contribute to their 401(k) plans in 2024 has increased to $23,000, up from $22,500 for 2023. That's just the beginning: The IRS also has issued technical guidance regarding all the...
What Is the SECURE Act 2.0?
American workers are struggling to save for retirement. In fact, only 43% of non-retired adults expect to be financially comfortable in retirement, according to a 2023 survey by Gallup. That same survey reveals that nearly half (48%) of workers expect that a workplace...