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Employee Relations;

 

If you're like a lot of executives who travel more than they care to, you probably collect more unsought perks than you could ever hope -- or want -- to consume. Three weeks of traveling might result in enough frequent-flyer miles for a free trip to Hawaii, but the last thing you want to do is get on another plane. Is the award worthless, or is there some way you can put it to use?

Why not give the free trip to one of your employees as a bonus? That's what Wes Creel does. "It's a nice perk to hand out," says Creel, president of Houston-based Creel Morrell Inc.

Before you start playing Santa Claus, however, be sure to check with the airlines -- some impose restrictions on who can use their awards -- and your accountant. The Internal Revenue Service still hasn't ruled on the taxability of frequent-flyer handouts, although spokesman Rod Young says it's possible they will be considered income of the employee who receives them. And the IRS does not generally expect that the value of the earned bonus would qualify as a business expense for your company.