Do I need to add the value of JemmVouchers to an employee’s income?
Yes. Since you are providing JemmVouchers to your employees, the IRS considers them a fringe benefit. In most cases, fringe benefits are taxable as income. However, many JemmVouchers are not taxable as income. For example, if a JemmVoucher is used for work-related skill development (things like an industry talk, or a seminar on sales techniques), then the IRS may consider it non-taxable.
Jemmworks does its best to properly label (in an easy-to-read monthly report) each JemmVoucher as either taxable or non-taxable as income. However, the nuances and changing nature of tax codes means that we cannot guarantee our assessment will be correct. As a result, Jemmworks’ taxable or non-taxable designations should not be relied upon as qualified or professional tax advice. If you have any questions about which types of JemmVouchers are considered fringe benefits and thus are taxable as income, or any other matter regarding taxes pertaining to a JemmVoucher, please consult an HR professional, accountant or qualified tax advisor.
When is payment due each month?
Full payment is due in advance, 5 days prior to the start of each calendar month. Employers will receive an invoice for their upcoming monthly payment 15 days prior to the start of each calendar month.
Do I have to pay for jemms that aren’t used by employees?
Yes. At the end of each month, the cash value of any unused jemms is automatically donated to charity. On the Jemmworks platform, each employee can select from various different charities to which that money can be donated.
Are donations tax-deductible for employers?
Yes. Employers (and not individual employees) may deduct charitable donations made via the Jemmworks platform, subject to applicable tax law.
Can I pay Jemmworks with a credit card?
Sorry, we only accept online bank payments.
What should I do if an employee resigns or is terminated by our company?
When an employee leaves your company, you should log onto your Employer Dashboard to delete that employee’s profile right away. It’s easy and instantaneous. If you have any questions, feel free to call us and we’ll help.
What is the Jemmworks guarantee?
Give Jemmworks a try. If you haven’t seen improvement in employee morale and productivity in 90 days, just let us know and we’ll refund all Jemmworks fees, no questions asked. Note: Jemmworks fees don’t include the cost of jemms.