christmas bonus question, which would you rather get?

[tombogan03884]

My bonus has always been in the 10% of my salary range until last year.

Last year we got a boot in the ass and the asshole closed the shop for three weeks.  A bonus would have been rather silly after losing $4000.00 in income for the three weeks out.

Cash for anything is always better than a gift card.  Gift cards will sometimes charge you 5 bucks to activate and some have an end date that you have to pay attention to.

If you're giving out over 600 bucks, your employee has to pay taxes.

They only take taxes if it's a check, States vary but the federal rule is cash gifts under $12,500 don't have to be reported..
I would go with cash, GC's are good, but with the economy the way it is cash can be put toward the house payment/rent, or other needs .

[Ping]

CASH. Save the World from more plastic pollution.

[Timothy]

They only take taxes if it's a check, States vary but the federal rule is cash gifts under $12,500 don't have to be reported..
I would go with cash, GC's are good, but with the economy the way it is cash can be put toward the house payment/rent, or other needs .

I believe they have to be reported but there is form that needs to filled out.  Anything on a company check needs taxes deducted if it's a bonus.  At least my experience in the last 15 years is such.  All of my bonus were by company check and they get absolutely hammered by the IRS.  I got a bonus of nearly 10K a few years ago and I cleared just under 6K.  My normal federal tax wasn't anywhere near that.

[2HOW]

All values being equal.

cash, a gift card to a chain resterant, gift card to a major retailer, or a gift card to a major box store?

which would you and your family prefer?

CASH

[Big Frank]

I'd rather have cash to spend on whatever I need or want.

[Sponsor]

[alfsauve]

.............but the federal rule is cash gifts under $12,500 don't have to be reported..

Yes, but an employer isn't really giving true "gifts" (something given without the expectation of anything in return).   They're more like bonuses.   We're lucky that the IRS overlooks small amounts.  Here's the eHow link: http://www.ehow.com/list_6631180_irs-rules-employee-gifts.html  

[Paraguy]

Gift card or cash, doesn't matter, if my wife can't find out about it then it is what I call "undeclared income."

[Magoo541]

C A S H

+1

Good for guys to buy want they want without a paper trail 

[billt]

Our company gave out $50.00 gift cards at one of the local supermarket chains. They don't sell guns or ammo, so I guess the next best thing will be a large bottle of Jack Daniel's.

[TAB]

Well went with a 1 lb box of see's truffles and a $25 AMX gift card...


the lady at sees looked at me real funny when I said I want 37 1lb boxs of mixed truffles.