Parlade Schaefer Schortz, Cpas PA

As we move into the latter part of the year, many business owners are once again grappling with questions around employee bonuses. Should we offer them this year? How much should we allocate? Should we be giving gifts versus cash bonuses, and what are the tax implications of each? Employee bonuses can be a complicated issue, both from staff optics and tax planning perspectives. The Pros and Cons of Offering Employee Bonuses Let's start by looking at some of the pros and cons of offering employee bonuses. On the plus side, bonuses can be a great way to reward employees for a job well done and incentivize them to maintain or exceed current levels of performance. Bonuses can also help attract and retain top talent. On the downside, bonuses can be a significant expense for business...

Official Website