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Question for corpo Gaf

JBat

Member
The company I work for has one of those recognition services where colleagues can gift you points that you can redeem for stuff or gift cards. I have enough points that I can cash out into best buy gift cards to make a lg ultra gear 45" OLED monitor almost half off. So worth about 650 USD. The catch, as I understand, is that this would be considered as gift cards received from my employer and taxed as income. Anyone have experience with one of these services? I'm assuming doing this would end up being about 1/3 of the persevered value after income and sales tax. Am I thinking about this right? The monitor is on sale at the moment at best buy plus the "free" money makes it pretty tempting but if it's taxed to hell and back I don't want to bother. Cheers to my follow wage slaves!
office space i would set the place on fire too if i didnt get my cake GIF by Maudit
 

Go_Ly_Dow

Member
JBat did you once go by the name JBaird?

If it's $650, which isn't a large amount all things considered, perhaps you can get away with the tax charge.
 
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TransTrender

Gold Member
For my company it goes like this:
Get good boy points valued at $50.
See additional income added to my pay stub for $70.50 (or whatever) which would be the $50 plus max Federal and State taxes.
If they don't do this but report the income on your W2, then you would have to pay taxes and that $50 is closer to $35.
Or they don't report anything at all and you also don't do anything.
 
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JBat

Member
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