- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Coaching Changes
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: I was taxed on Xmas gift cards
Posted on 12/19/24 at 7:37 am to ChestRockwell
Posted on 12/19/24 at 7:37 am to ChestRockwell
quote:
These were handed out cards in an envelope.
How long have you been working baw? It does not matter to the IRS how you physically receive the compensation.
2
Posted on 12/19/24 at 7:38 am to sidewalkside
quote:
It does not matter to the IRS how you physically receive the compensation.
Welllllll....
The company could've just handed them out without reporting.
Posted on 12/19/24 at 7:40 am to ChestRockwell
They taxed you $700?
Posted on 12/19/24 at 7:40 am to The Torch
quote:
I worked for a small company several years back, our president was from Hong Kong and cheap as F$$K. We would take our top sales people on trips to fancy golf resorts, Vegas etc etc etc Then he would 1099 em at the end of the year for the cost of their trip They would all call me raising hell
this is awesome Posted on 12/19/24 at 7:40 am to RummelTiger
quote:
Welllllll....
The company could've just handed them out without reporting.
They could have but why would they waive their right to claim a legitimate business expense and minimize their tax nut?
Posted on 12/19/24 at 7:41 am to sidewalkside
Baw, I've been working for 39 years, and never had an employer take out taxes on a gift card. Not even some cheapskate owner for a $25 one at Academy.
Posted on 12/19/24 at 7:42 am to ChestRockwell
It's income.
I'm not sure why you think Uncle Sam is fine with gift cards.
I'm not sure why you think Uncle Sam is fine with gift cards.
Posted on 12/19/24 at 7:43 am to sidewalkside
quote:
They could have but why would they waive their right to claim a legitimate business expense and minimize their tax nut?
If you have to ask why...
Posted on 12/19/24 at 7:44 am to ChestRockwell
quote:
Yep
I don't think you're reading your pay stub correctly. Go talk to payroll and they can explain it to you.
Posted on 12/19/24 at 7:45 am to ChestRockwell
same here...
Posted on 12/19/24 at 7:45 am to ChestRockwell
quote:
Yep
Wait...
You're saying they TAXED you $700 on $700 worth of gift cards?
I'm gonna ask a previously asked question:
Do you know how to read a paystub?
Posted on 12/19/24 at 7:47 am to sidewalkside
quote:
They could have but why would they waive their right to claim a legitimate business expense and minimize their tax nut?
Dumb arse company should have just gave them $200 and $500 bonuses instead of gift cards. Same expense for the company but these employees are now forced to seek out Kroger and Sam’s to spend it.
Posted on 12/19/24 at 7:47 am to Jcorye1
Look baws, I'm not an accountant, but this is the first time in my working life that this has ever happened. I received many bonuses, and taxes were taken out. But to have my boss hand out an envelope with a few gift cards in them, and say "Happy Holiday's" , and then deduct the amount the following paycheck, is questionable, to say the least. Gift cards are exactly that, a GIFT. Seems like the company is Indian giving
Posted on 12/19/24 at 7:48 am to Big Jim Slade
Don't get me started, bro.
Posted on 12/19/24 at 7:48 am to ChestRockwell
quote:
Look baws, I'm not an accountant, but this is the first time in my working life that this has ever happened. I received many bonuses, and taxes were taken out. But to have my boss hand out an envelope with a few gift cards in them, and say "Happy Holiday's" , and then deduct the amount the following paycheck, is questionable, to say the least. Gift cards are exactly that, a GIFT. Seems like the company is Indian giving
I think you're trolling at this point...
Posted on 12/19/24 at 7:49 am to ChestRockwell
This has happened to me for years. It’s not a new thing.
Posted on 12/19/24 at 7:50 am to ChestRockwell
quote:
Look baws, I'm not an accountant, but this is the first time in my working life that this has ever happened. I received many bonuses, and taxes were taken out. But to have my boss hand out an envelope with a few gift cards in them, and say "Happy Holiday's" , and then deduct the amount the following paycheck, is questionable, to say the least. Gift cards are exactly that, a GIFT. Seems like the company is Indian giving
This is why we think you don't know how to read a pay stub. No compensation should be taxed 100%. Again, this is why you need to go talk to payroll because maybe they screwed something up
Posted on 12/19/24 at 7:50 am to ChestRockwell
quote:
These were handed out cards in an envelope.
Unfortunately, this isn't up to your employer to decide. All compensation is taxed.
They might be able to get away with giving specifically you (and no one else) a gift card in the middle of the year without taxing it, but there's no chance they'd be able to do that for everyone in the company and it go unnoticed.
Page 2 of 9
Back to top
Follow TigerDroppings for LSU Football News