Buying Christmas gifts for family members is hard enough and now you have to buy something for your staff members too!
Whether you want to give everyone the same gift across the board or make each one a little more personalized, a conversation with your accountant about the “expense” side of gift giving is important. At this point, the IRS still says, the gift limit is $25/individual in Publication 463.
Here are a few ideas:
- Gift Certificates – Gas cards, restaurants, grocery stores.
- Cash bonus – Everybody loves cash and and if handled correctly it will be a business expense (ask your accountant the proper way to do this)
- Food – Turkeys, hams, assorted boxes of chocolates, popcorn tins (remember to consider any dietary restrictions)
- Extra paid time off – Many staff members would love an extra couple of days off around the Holidays.
- Fun for a day – Have everyone bring a dish and play games, chat and take the afternoon to just goof-off.
- Christmas dinner – Invite your staff members and their significant others to a special Holiday dinner. Alcohol is always optional.
- Logo items – Shirts, coats, mugs filled with candy – if your logo is on it, it is a marketing expense.
- Trolley Ride – Get everyone on board and travel the city to see the Holiday lights.
The key to staff gift giving: Any of these items should be followed with a personalized note of gratitude for their services from you, no matter what you are able to afford, your gift will be welcomed if it is accompanied by a sincere note of appreciation.