New Motivosity Tax Summary Report

Motivosity is always trying to create new ways to make your life easier.

As an administrator or finance administrator of your company's Motivosity account, you will now have access to a new report that allows you to see a detailed history of redeemed cash broken down by type. These types are eGift, Local, Anniversary, and Birthday. Re-gift and Charitable donations aren't reported because they don't have any effect on each employees tax return.

Keep in mind that when dollars are being thrown around in the system, it acts like monopoly money up until the point that it is redeemed. At that point, it is considered taxable.

If you go into your insights page, in the left-hand column you'll see the Tax Summary report. Click on that and you'll see your company like the image below. NOTE: Make sure you select the right time frame in the 'Showing results for _______' drop-down menu.

When reading the report, 'E-Gift' and 'Local' will show amounts redeemed by employees. This is important because like a wise man once said... "A dollar spent is a dollar taxed."

'Anniversary' and 'Birthday' will only show amounts if your company has decided to award physical items on these special occasions through Motivosity. For example, if you give each employee a 300$ watch once they hit 5 years, 300$ will show up under Anniversary. If you had a company t-shirt for each birthday, the dollar amount linked with that shirt would show up under Birthday.

The 'Total' section just adds up the other four for you, giving you a total taxable amount from the selected period inside of Motivosity. Legally this report should be run once per year and tacked onto the employees' W-2.

For more information on how Motivosity and taxes work together, please read the document below.

Motivosity and Taxes