A previous post I wrote where I bitched, moaned, sniveled, whined, griped and complained about receiving a Walmart gift card instead of a Christmas bonus raised a question:
Did my boss select a gift card instead of cash or a real bonus to gain some sort of advantage on his taxes?
I did a bit of quick checking and, as far as I can tell, the answer is a resounding “no.”
Don’t worry, he’s still evil. But apparently that evil didn’t come into play … this time!
What I learned is that the IRS treats cash and gift cards exactly the same. The gross amount for both types of gifts must be reported by your employer to the IRS as “compensation.”
A gift certificate to a local restaurant would be taxable. Taking employees out to dinner at that same restaurant, on the other hand, would still be considered “non-taxable.”
Small gifts, like a Christmas turkey or a fruit basket, may be considered de minimis by the IRS and not subject to reporting as compensation.
For me the issue isn’t one of taxation. It’s that I’ve taken on a ton of additional responsibilities in the last 12 months and I’ve come through time and time again for the team. As such a $50 gift card to a store I don’t like feels more like an insult rather than a reward.
This post is based on information I found on this page on Law.com.
Edit: I just realized this post doesn’t address the main point that was intended. D’oh! Sometimes I’m freakin’ dumb. I guess I still don’t know what approach offers the best tax deductions for the company. So maybe that did still play some sort of role. Who knows? At this point I am so beyond caring.
If you are worried about this, you are in for a rude surprise next year.
Every year is a rude surprise. And no, you can’t pin that on Obama.
I work 40 hours a week and receive no health insurance from my employer. I recently met someone who was surprised by this. I was like, “You’ve visited planet Earth before, right?”
Meanwhile, the last few years I keep ending up owing more taxes that what was withheld from my paycheck. Each time this happens I fill out another stupid form to make the withholding rate higher. It boggles my mind that I make barely more than minimum wage in my shitty job and yet I end up owing even more money come tax time. I’m told that is because I have no mortgage (where I could write off interest) and no deductible kids. Apparently eating my food and using all my hot water doesn’t count.
I haven’t done a post about this yet but that’s one reason why I often refer to myself as the “wretched refuse.”
“Every year is a rude surprise. And no, you can’t pin that on Obama.”
Ohh just wait til inflation hits and then hyper inflation, it will be awesome.
Inflation. Inflation? Inflation!
Oh yeah, that’s right. That’s an economic principle that existed long before we had a President named Obama. You make it sound as though inflation is about to hit for the first time evar. LOLZ!
Bush Says Economy Sound As Inflation Rises To Record Levels
July 16, 2008
“I think the system basically is sound, I truly do,” Bush said. “And I understand there’s a lot of nervousness. . . . But the economy is growing, productivity is high, trade is up, people are working. It’s not as good as we’d like, but . . . to the extent that we find weakness, we’ll move.”
Bush joked that he had now heard of $4.00 per gallon gas, after he notoriously denied any knowledge of those forecasts in a press briefing in March.
A sound system seemingly encompasses one that has led to 27 year highs for inflation rates. A report released by the Labor Department today revealed that on a 12-month basis the producer price index soared 9.2 percent in June, the largest increase since June 1981.
Bush thought the economy was “sound” right before the Great Recession. Let’s see if your prognostication is any better. :p
“You make it sound as though inflation is about to hit for the first time evar. LOLZ!”
No, Im saying its going to hit harder than it did under Dhimmi Carter. Thats what happens when you print money to fund entitlement programs. Enjoy your change.
Gee, I wonder if I can make up stupid names for people you like? Would that facilitate the better exchange of ideas?
As far as change is concerned, almost anything that moves away from Bush sounds awfully damn good to me.
Keep up with the hatin’.
“As far as change is concerned, almost anything that moves away from Bush sounds awfully damn good to me.”
Like over 10 percent unemployment? Real damn good.
Well, it will take a little while to recover from him, ya know?
You would have a point if al-Thuggy was actually interested in reviving the economy. Given that he is at a minus 21 in less than a year, not too many people are still blaming Bush for al-Thuggy’s ineptness. But hey, the jackass gave himself a solid B plus, thats what counts, right?
Right. According to you Obama wants to destroy America. And he wasn’t born in America. Yada yada yada. Say, where can I send a tin foil hat for you?
I love it. When you cant dispute anything I say you try putting words in my mouth and say I am crazy. Trying pointing out facts. Try pointing out what I said that was crazy. Go on, try. 🙂
“al-Thuggy” are your other insulting made up names are not clever and they almost prove that case all by themselves. People like you always fail to see how discussing a subject while peppering it with lame insults always makes them look like whack jobs.
Talk about tangents. We discuss Obama. I made a point about Bush. You bring up freakin’ Jimmy Carter (with yet again another non-clever insult).
As far as putting words in your mouth goes, you just implied as much when you repeated the viral lie that Obama doesn’t care about the economy. The people who repeat that particular lie are usually the sort who also say things like “Obama wants to destroy our country.”
So, quiz time. (I doubt you’ll actually answer, though. You never stay on point.)
True or False: Obama wants to destroy America.
True of False: Obama was born in America.
True or False: Obama wants to destroy America.
I cant read his thoughts though he has dont absolutely nothing that would stimulate the economy or the creation of jobs in the private sector. Either as a US Senator or as “president”. Though he must be excused from his US Senator role. He was too busy campaigning as president to try to do something to head off this economic meltdown that he continually blames on Bush. Even though his party controlled both houses in Bush’s last 2 years 🙂
True of False: Obama was born in America.
Undetermined since he refuses to release his long form birth certificate along with just about everything about his life. Could be born in America though he is defiantly hiding something from his past. Thankfully he gave himself a solid B plus so we actually have some school transcript. 🙂
Thanks. My suspicions about you have been confirmed. You are a hater and a Birther. Probably a few other things, too. My only amazement is that you actually try to couch your responses in doublespeak. Man up and simply say “true” and “false.” Why hold back and play coy now?
I get it. Campaigning to be president is bad. That’s why Obama is the only one who’s ever done it. McCain didn’t campaign, Reagan didn’t campaign and Bush certainly never campaigned. None of them had existing responsibilities, either. Just lounging around with nothing but free time. Of course, in your view, only one of them is bad and worthy of hatred. :p
“Long form birth certificate.” Thanks for the belly laugh. I don’t have mine and I doubt you have yours. Why don’t you show me the language in our Constitution or laws that says only the “long form birth certificate” will be accepted for holding the position of president? Too bad for anyone who’s original certificate was ever lost or destroyed. (It happens.) Apparently they can never be President of the United States no matter where they were actually born. The FACT is that a certified copy of live birth is accepted for everything in our society from political office to the DMV to passports.
The truth of the Birther movement is that they’ve produced absolutely no proof that Obama was born outside of the United States. Short of any actual PROOF, the entire movement hinges on the premise that since Obama won’t produce a “long form birth certificate” that it must be true. That is not the same as proof and it’s faulty logic. It is, however, enough to convince you. That just makes me doubt your reasoning ability and conclusions even more than I already did.
Thanks for playing.
Wow, Im a hater? You sure love labeling people you debate with, dont you?
You demonstrate your “hate” primarily in two ways. One, with “al-Thuggy,” one of the lamest insults I’ve ever heard. Two, the application of your double standards that demonstrate the “my guy good, your guy bad” mindset.
Come on. Go ahead. Tell me you don’t hate Obama. And I see you didn’t accept the true/false challenge. Very telling indeed.
Really? What guy did I say is good?
Nice dodge on everything else I said btw. You know, if al-Thuggy actually acted like an American instead of a “global citizen”, maybe people wouldnt mind as much that he seal his past away.
“Campaigning to be president is bad.”
Did I say that? The thug decided he was qualified after 3 months into his first term to be president. What did he do besides campaign to stop this economic meltdown that occured on his parties watch since they controlled Congress? Did he agree with Juan McVain that Fannie Mae and Freddie Mac was about to crash? nooooooooo… He got too much money from them so he agreed with his fellow thugs that they were just fine. Did he say that congress was spending too much? Of course not. Thats why he kicked the spending into overdrive and printed money like there is no tomorrow.
Have faith, my friend. His evil lives!
Woot! Thanks for sharing that! 🙂
“And I see you didn’t accept the true/false challenge. ”
I did answer it. Unlike you who keeps dodging just about everything I said. Its ok, thats how libs debate, I am used to it.
The possible answers were “true” and “false.” Try again.
And based on your “how libs debate” comment I think we can now add liberal hater to the list.
Well if you didnt like the explanation well too bad. At least I use facts instead of saying “your a hater, so there”. Thanks again for showing how libs debate, thanks for playing.
Do you actually deny that:
1. You hate Obama?
2. You hate liberals?
Your mindset indicates that you view “liberals” as “bad.” Comments like “that’s how they debate” are indicative of how you really feel. Maybe you don’t even know it yourself, which would be sad. If so, perhaps you would benefit from turning on a critical eye on yourself and performing an honest self-assessment.
I wasn’t happy about the election of George W. Bush. More often than not I didn’t agree with his decisions during the last eight years, either. You’d often find me saying things like “he wasn’t elected in 2000 with a majority vote” or “I don’t agree with Bush’s decision regarding XYZ.” What you’d never find me doing is making up juvenile insults and refusing to refer to him by name. That is why I feel you are hating on Obama. Just my personal opinion for whatever it is worth.
For the record, I don’t always agree with Obama, either. And I don’t hesitate to say so when I feel so moved.
To be quite honest, I don’t have a lot of time or energy for someone who only refers to our president as “al-Thuggy.” That is why I don’t invest much of myself in this discussion. You come at me with some unbiased facts and in a more decorous manner and we might have a more fruitful exchange that has a better chance of convincing me of your point of view.
Are you up for something like that?
“Are you up for something like that?”
Already tried but you just dodged everything and called me a “hater” because I call him al-Thuggy which is a very apt description of the marxist thug.
I’ll take that as a “no.”
Take it however you want. Doesnt change the fact that al-Thuggy’s halo has fallen and the American people are waking up to the marxist POS they elected. Just wait til next year when their taxes go up and inflation hits due to his ineptness. Maybe al-Thuggy will give himself an A minus next year for royally screwing over America.
I think Obama is a great president and he still has my full support and I’m very glad I voted for him. Do I think he wears a “halo?” No, that is yet another lie from the right. Do I think he’s perfect? No. I agree with some of his decisions and disagree with others. But my rate of agreement is higher with Obama than it was with Bush.
Really? He is a great president? What is so great about him? What has he done that has made America better and stronger? This should prove interesting.
Knew you couldnt answer. You guys are so predictable.
That’s really your big problem, isn’t it? Drawing conclusions from faulty or incomplete information. Away From Keyboard is not the same as “couldn’t answer.”
I reason that every conclusion you’ve ever reached in such a dubious manner is highly suspect.
LOL Came back just not to answer a simple question. You said he was great. Cant elaborate,cant you?
Well, it’s frustrating to play with you when you won’t give straight answers to questions, either.
But I’ll name one example. It was his speech on ending “don’t ask don’t tell.” He didn’t pull punches. He didn’t speak like a politician. He didn’t try to play both sides of the fence. He took a position and went after it. I thought that was a great moment.
Wow. If thats all you have, that is pretty damn sad.
Again you amaze me with your inability to read and comprehend. I said it was “one example.”
And of course I said IF. I am the one with your inability to read and comprehend. You have others lets hear it. Usually people lead off with something strong, not something weak like a speech given by TOTUS about “Dont ask, Dont Tell”.
And you can only give one and a really pathetic one. But then, we are talking about a pathetic “president”.
Well I just typed out a very nice long reply and accidentally closed the window. That reply is now gone. Ouch. That hurts.
Obama has done more in his first nine months than Bush, who essentially vacationed a lot and was a lame duck, although he did find the time to break some of his campaign promises, especially ones that pleased the energy industry. And in writing, too.
If you only view Obama as “pathetic” and Bush as good, then your viewpoint is really too skewed to make your conclusions very interesting. My view is that both of them have their pros and cons and things aren’t always so binary.
Obama has done a lot in his first year. For Bush it was basically “respond to 9/11.”
Obama has worked hard to stop the financial bleeding. Yes employment is high and this is still the Great Recession, but banks have been stabilized, the GDP for Q3 and Q4 should be higher than projected, and foreclosures have been reduced. Regulatory reform is underway.
It should also be noted that the organized resistance against Obama from day one has dwarfed anything seen by Bush until his later years. That makes anything accomplished by Obama just that much more significant.
Agree or not, Obama has gone after big goals and made big moves. Bush vacationed a lot and didn’t do much of anything else, at least until 9/11.
“Obama has worked hard to stop the financial bleeding.”
Sure he has. Thats why he spent like a drunk sailor
“but banks have been stabilized, the GDP for Q3 and Q4 should be higher than projected”
Wrong on that, they are even lower than projected
“Regulatory reform is underway.”
Well that went over so well with his buddies in Fannie Mae and Freddie Mac so why not. Perhaps the government should regulate itself from spent us to povety. Nahh that would mean giving up power to the people. Screw the people.
“Bush vacationed a lot”
Unlike al-Thuggy who plays 4 times us much golf as Bush did and goes on vacation to receive meaningless medals and pimp for his thug buddies in Chicago for the Olympics.
FYI – Fannie Mae and Freddie Mac were nationalized under Bush.
BS, they were nationalized under LBJ. But Bush did warn they were about to crash. The Dems with the big donations from them ignored it including al-Thuggy.
Eloquent as always. And with the same result. Dead wrong.
Wikipedia: Federal takeover of Fannie Mae and Freddie Mac
Ohhh wiki, I was proven wrong. It all started with LBJ. Not that I am going to defend Bush when he went progressive. When he did, he was an idiot. And of course the time it refers was when the demomarxist controlled congress. But this whole mess with Fannie Mae and Freddie Mac was started under LBJ. Anything government gets its claws in eventually gets corrupted and destroyed.
Stuff like police, fire, water, sewer, roads, mail, schools, NASA, national defense, etc. All destroyed. 😉
Well you are pretty much right about the mail, schools, and NASA. They are all pretty much screwed up. National Defense will get there too with these morons in charge. As for the rest, they are ran by the states. Of course the schools are suppose to as well but Dhimmi Carter screwed that up.