9 Things Few People Know Are Actually Taxable

Gifts from Your Employer

How could the IRS tax something a close one has offered you? The IRS holds the answer. Usually, gifts can’t be subject to taxes, no matter how much they may worth. However, for employer offerings, things are a little different.

Any gift that comes from your employer makes you pay taxes depending on the value of the received object.

No, this isn’t a joke. Even if your employer gives you, say, a golf clubs set, you will end up having to pay cash for it. According to the Supreme Court, though, a gift from an employer can be excluded from the employee’s income if it was made of ‘detached and disinterest generosity.’

Leave a Comment

Your email address will not be published. Required fields are marked *

related posts
from our network