Payroll Tip: Facing the Tax

If you opt to go with a gift that costs more than $25, you may consider “grossing up.” This means you have to be willing to pay the gift amount and also the amount it’s taxed for so that the remaining amount can be given to the employee without he or she worrying about taxes. For example, if you want to give a $100 gift to your employee, you’re likely to end up spending around $120.

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