If you give cash as a wedding giftâ¦. 1  Always enclose it in a nice card with the appropriate personal note, wedding wishes, and congratulations to the happy couple.  If you choose to give cash as a gift card, opt for cards at stores the couple prefers and cards without expiration dates or monthly fees.
Cafeteria-style plans provide a special exception to federal income tax rules that apply to an employeeâs earnings. In a cafeteria-style plan, employees are allowed to select among various nontaxable benefits and cash. Benefits to Employees. In a cafeteria-style plan, an employee generally receives a certain number of dollars from the employer to purchase particular elements of a benefits plan. This enables employees to purchase benefits, such as health insurance, with pretax dollars.
To qualify, a cafeteria plan must allow employees to choose from two or more benefits consisting of cash or qualified benefit plans. The Internal Revenue Code explicitly excludes deferred compensation plans from qualifying as a cafeteria plan subject to a gross income exemption.Section 125 also provides two exceptions.he second exception is that if the statutory nontaxable benefits provided to key employees exceed 25 percent of the aggregate of such benefits provided for all employees under the plan, then the key employees must report their cafeteria plan benefits as income.