Nix the Cash Bonus: Reward Your Employees While Reducing Your Tax Bill

By | April 23rd, 2020|Accounting, Business, Taxes|

Good employees can be hard to find. When you do find them, you want to keep them as long as possible. It can be tempting to pay a cash bonus to show your appreciation. Everybody loves cash. Accept accounts! Here’s why . . . What’s Wrong with a Cash Bonus? Of course accountants love cash too, but paying cash bonuses can make for a bookkeeping nightmare! When you pay employees with cash, there’s no paper trail. There’s no way to prove to the Canada Revenue Agency (CRA) that you incurred those expenses.  As much as you want to show your appreciation [...]