Haggerty: Jacobs should be held responsible
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11-29-2012, 08:53 PM
Business of Hockey
Join Date: Jul 2006
Location: South Mountain
Originally Posted by
In Canada, companies have cut back service awards because of the taxable benefit thing and a toaster is a heck of a lot cheaper than a Stanley Cup ring. If it is a similar taxable rule in Massachusets,
how can a company give a ring (that is seen as a taxable benefit) and then pay for the taxes (which would be another taxable benefit)?
You give the employee a seperate $ bonus that after taxes are paid on the bonus money leaves enough to cover the taxes on the gift. Not uncommon in my experience.
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