Comments on: A Refreshing Approach To Holiday Bonus Giving http://www.moneycrashers.com/a-refreshing-approach-to-holiday-bonus-giving/ Personal Finance Blog, Your Guide to Financial Fitness Fri, 10 Feb 2012 01:50:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Leahttp://www.moneycrashers.com/a-refreshing-approach-to-holiday-bonus-giving/#comment-5428 Lea Tue, 01 Jan 2008 20:13:59 +0000 http://www.moneycrashers.com/a-refreshing-approach-to-holiday-bonus-giving/#comment-5428 not necessarily taxable income if they never had constructive receipt. It appears that the employees identify recipients, but the company transfers the money. not necessarily taxable income if they never had constructive receipt. It appears that the employees identify recipients, but the company transfers the money.

]]> By: Minimum Wagehttp://www.moneycrashers.com/a-refreshing-approach-to-holiday-bonus-giving/#comment-5419 Minimum Wage Tue, 25 Dec 2007 02:54:56 +0000 http://www.moneycrashers.com/a-refreshing-approach-to-holiday-bonus-giving/#comment-5419 Anything donated to an individual would not be deductible. Anything donated to an individual would not be deductible.

]]> By: Minimum Wagehttp://www.moneycrashers.com/a-refreshing-approach-to-holiday-bonus-giving/#comment-5418 Minimum Wage Tue, 25 Dec 2007 02:50:24 +0000 http://www.moneycrashers.com/a-refreshing-approach-to-holiday-bonus-giving/#comment-5418 Waaait a minute... The $1,000 bonus is taxable income to the employee receiving it. When the employee donates it to a QUALIFYING charitable organization, it becomes deductible ONLY if the employee itemizes deductions. Some of the employees - especially younger and/or newer employees who do not yet own homes - won't be able to itemize, and therefore will wind up worse off when the $1,000 which they don't get to keep is taxed. Who would accept a "bonus" that makes them worse off? Waaait a minute…

The $1,000 bonus is taxable income to the employee receiving it. When the employee donates it to a QUALIFYING charitable organization, it becomes deductible ONLY if the employee itemizes deductions.

Some of the employees – especially younger and/or newer employees who do not yet own homes – won’t be able to itemize, and therefore will wind up worse off when the $1,000 which they don’t get to keep is taxed.

Who would accept a “bonus” that makes them worse off?

]]> By: ParatrooperJJhttp://www.moneycrashers.com/a-refreshing-approach-to-holiday-bonus-giving/#comment-5416 ParatrooperJJ Fri, 21 Dec 2007 19:22:55 +0000 http://www.moneycrashers.com/a-refreshing-approach-to-holiday-bonus-giving/#comment-5416 Hopefully the bank gave the money straight to the designated recipient and not to the workers, otherwise the workers will owe income tax on the $1000. Hopefully the bank gave the money straight to the designated recipient and not to the workers, otherwise the workers will owe income tax on the $1000.

]]> By: Roberthttp://www.moneycrashers.com/a-refreshing-approach-to-holiday-bonus-giving/#comment-5412 Robert Wed, 19 Dec 2007 15:52:38 +0000 http://www.moneycrashers.com/a-refreshing-approach-to-holiday-bonus-giving/#comment-5412 The article mentions (waaay down at the bottom) they got their regular 4.5% bonus. This exercise was on top of that. Interesting idea. The article mentions (waaay down at the bottom) they got their regular 4.5% bonus. This exercise was on top of that. Interesting idea.

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