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Jan 17, 2024 · A holiday bonus is a gift given by an employer to an employee during the holiday season. A holiday bonus can be a physical gift, extra paid time off or, most commonly, a monetary payment. Aug 30, 2023 · This guide is a jingle bell away with everything you need to know about Christmas bonuses in the United States. You’ll discover how these additional pays work, what the typical bonus amounts are, tax implications, the benefits of giving a bonus, and wisely spending your bonus. Nov 9, 2018 · Here are some commonly accepted holiday bonus guidelines that can help you determine what's most appropriate for you and your employees. A holiday bonus can generally be described as a gift expressing gratitude, which is given equally to everyone. Bonuses can usually be separated into two types: discretionary and nondiscretionary. Think of a discretionary bonus as an award an employer gives on a case-by-case basis to recognize achievement — the employee receiving a discretionary bonus didn't have to meet any type of quota or condition to receive it. Dec 10, 2024 · Holiday bonuses are recurring financial bonuses that employers usually apply to employee pay in late December. Often, your employment contract outlines a bonus and your salary. You can receive holiday bonuses through multiple different methods, including an individual check, additions to your standard paycheck or pretaxed gift cards. Sep 4, 2024 · In this article, we'll explore the ins and outs of implementing a Christmas bonus program, offering insights into its qualifying benefits, design, and creative alternatives to cash rewards, tailored for HR managers and small business owners. What is a Christmas bonus? Dec 12, 2024 · In this guide, we’ll explore what a Christmas bonus is, the different types of Christmas bonuses, their benefits, how to plan one that works for your company, and the important tax and legal details you need to consider. We’ll also cover the average bonus amount and how to calculate it. Paying bonuses to employees around the winter holidays is a common practice in businesses of all sizes. Many employers use holiday bonuses to boost morale among their team and thank employees for a good year. According to the Internal Revenue Service (IRS), some types of holiday bonuses are taxable. Christmas bonus schemes are a great way to reward your team. From legalities and taxes to alternatives, here's everything you need to know! While Christmas might feel like a way off (28 days, but who’s counting?), now is a great time to start planning how to reward your employees for their hard work this year.

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