What are Employee achievement awards?

Employee achievement awards are tax-deductible tangible personal property items given to employees for length of service milestones or safety achievements under structured recognition programs. Businesses can deduct up to $400 per employee annually for non-qualified awards or up to $1,600 per employee for Qualified education assistance programs that meet written plan and nondiscrimination requirements. Awards must be meaningful presentations of tangible items, not cash or disguised compensation, with length of service awards limited to five-year intervals and safety awards restricted to eligible employees meeting specific criteria.

Related Terms

What are Fringe Benefits?

What is a Qualified Education Assistance Program?

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Tax loss harvesting

Transform investment losses into strategic tax advantages and optimize your portfolio's performance with AI-driven precision.

Child traditional IRA

Open a Traditional IRA for children with earned income. Contribute up to $7,000 annually with full deduction, giving them decades to grow tax-free.

Employee achievement awards

Award your team for service milestones and safety achievements while maximizing allowable deductions up to $1,600 per employee.

Health reimbursement

Set aside money on a pre-tax basis to pay for qualified medical expenses to maximize tax savings opportunities.

Child & dependent tax credits

Claim up to $2,000 per child & $500 per other dependent. Automatically maximize your child and dependent-related tax credits.

Health savings account

Set aside money on a pre-tax basis to pay for qualified medical expenses to maximize tax savings opportunities.

Sell your home

Transform your home sale into a tax-saving opportunity.

Employee achievement

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Work opportunity tax credit

Unlock tax savings for empowering your community through hiring.

Oil & gas deduction

Drill into tax savings. Maximize deductions for both tangible and intangible drilling costs.

Hiring kids

Reduce taxable income & self-employment tax by hiring your kids.

Home office

Deduct qualified expenses for using your home for business purposes.

Meal expenses

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Travel expenses

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Vehicle expenses

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Late S election

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Late C election

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Depreciation

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R&D tax credit

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Clean vehicle

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Residential clean energy

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Roth 401k

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Traditional 401k

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