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socks and cat

No snow = $$ bonus

It still has not snowed. This means no income loss for the business. This means all my employees get a little bonus. I've decided to buy Visa gift cards for all of them and just eat the taxes. I don't see the point of a small bonus if the employee has to pay the IRS some of it. It turns out all Chase banks sell Visa gift cards and the first $25 of each card is a tax deduction as a gift. Anything over $25 I have to pay taxes on.

Off I go for a long errand to-do list today. Need to rush though. TONS of e-mails to answer and they only back up more while I'm away from my office.

Comments

Assuming that you wanted to give a bonus bigger than $25.

Couldn't you just buy each employee multiple gift cards and still get the tax deduction?

Re: Assuming that you wanted to give a bonus bigger than $25.

I didn't think of this, but you are correct.