thyme4change
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Post by thyme4change on Apr 29, 2015 22:15:31 GMT -5
I get gift cards from my company and they don't count them as income. I wonder what the difference is - maybe because they are part of a drawing? Even though everyone gets one? How much would you want to give him? Could you figure out the approximate tax amount and ask people to contribute up to the amount the taxes would be? Could your boss give you a bonus for the amount (plus taxes) and you, out of the goodness of your heart) could personally give the gift card along with a sympathy card that everyone signed? If you do figure out a way to give him something - try to make it either a Visa card or to a place like a Super-Target, or Wal-Mart with groceries. That way they can use it for more than just groceries. You company is not doing it right I will add it to the list.
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ArchietheDragon
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Post by ArchietheDragon on Apr 30, 2015 6:30:51 GMT -5
You company is not doing it right I will add it to the list. FWIW my company doesn't do it right either
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TheHaitian
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Post by TheHaitian on Apr 30, 2015 6:48:47 GMT -5
I will add it to the list. FWIW my company doesn't do it right either My company does a mix... We are allowed to give teammates "stars" and for 6 stars = $25 gift card. But once a teammate reach $100 in gift card redemption, they start reporting it as income.
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Abby Normal
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Post by Abby Normal on Apr 30, 2015 10:41:32 GMT -5
I will add it to the list. FWIW my company doesn't do it right either SSSHHH- (whispers) That isn't something you're supposed to admit..
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tskeeter
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Post by tskeeter on Apr 30, 2015 11:04:08 GMT -5
We have an employee who has been out on FMLA because his child has been really ill. Wife has been spending most of the time with child at the hospital and he's staying home caring for the other kids. The prognosis for the child isn't good and he will not likely make it. The supervisor asked if we could buy a gift card (for groceries) but since we'd have to count it as income to him, I'm not thrilled with that. I suggested we start a fund for those who might like to help out with some cash for expenses. But what are some other ideas? We don't have a vacation sharing option. Under IRS regulations, when an employer gives a gift card to an employee, it's taxable income. However, the IRS also has rules about small gifts. The de minimis rule. Under this rule, small gifts of personal property or services, which total less than about $500 or $600 a year for an employee do not need to be considered taxable income. This means that your employer doesn't have to withhold income taxes every time they give you a coffee cup or a shirt. Under the de minimis rule, if the employer bought groceries that were worth less than the limit, I don't think the value of the groceries would be considered income to the employee.
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seriousthistime
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Post by seriousthistime on Apr 30, 2015 22:28:39 GMT -5
Gift cards for groceries, gas, and so forth would be welcome. Ditto babysitting for the other kids, and an overnight babysitting gig for the other four kids would give the parents some time together. They may spend it at the hospital, but it would be good for them to spend time together. If you give a grocery store gift card, make sure it comes with babysitting so the father can go shopping by himself and buy things he knows they need and would eat.
Sometimes, hospitals sell monthly parking passes. This family may be spending a small fortune just parking at the hospital. You might check into that.
Meals are good too, and include things you know the kids would eat. Young kids like string cheese, apple slices and caramel dip, graham crackers, frozen chocolate-dipped bananas, and so on. So if you're bringing a meal, throw in the sort of snacks the kids those ages would eat. Meals that are already frozen also work. (Think spaghetti sauce, garlic bread, etc. along with a few boxes of dried pasta. Even a few pounds of ground beef you've formed into burgers and frozen into individual patties in their own small ziploc bags are great for taking out exactly the number and size needed. Same with things like taco meat, already prepared and frozen.) Also, if you can pack a few lunch-type meals that the wife can take to the hospital, that would help.
Restaurant gift cards are great, especially for take-out/delivery. Pizza, subs, hamburgers, etc. would work. One of our local Italian restaurants has a to-go pack with your choice of pasta, salad, and bread. Something like spaghetti and meatballs is usually a guaranteed win with kids.
When we did this for a friend whose kids were in grades 1 through 9 (four kids in that range), people were often not eating at the same time, so having meals packaged in individual portions was a godsend. Then someone can pop a meal into a microwave and go. This would also be good for the wife when she comes home after a late stint at the hospital, or if the husband wants to feed the kids first and have dinner with his wife later. It saves on dishes, too, not to have to take a portion out of the big pan and then rewrap it to store in the fridge. Anything that saves space in the refrigerator is helpful when people are bringing food over in large containers.
How about occasional house cleaning services (from a cleaning company)? Lawn and garden services? Think of the things that you need to do to keep your personal life in order. Fulfilling any of those needs for this family would be most welcome. You might organize a volunteer workday to do things like weeding the garden, spreading mulch, planting flower boxes and pruning the bushes -- the things staring you in the face at this time of year, and that weigh you down emotionally when you drive into the driveway and see that, yes, the lawn STILL needs mowing.
And small gifts for the other kids would be a good thing. They may be feeling lost in the shuffle right now. The gifts don't need to be expensive. Fancy shoe laces, a big boxed set of new crayons or markers, colorful gel pens, coloring books or art paper, small notepads, fancy barettes or hair accessories, those silly elastic bands, etc. are some ideas. Or a helium balloon for each kid, that can be tied into a bouquet after you give each child his or her balloon. There are tons of ideas at the Dollar Store.
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cronewitch
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Post by cronewitch on May 1, 2015 1:12:13 GMT -5
However, the IRS also has rules about small gifts. The de minimis rule. Under this rule, small gifts of personal property or services, which total less than about $500 or $600 a year for an employee do not need to be considered taxable income. This means that your employer doesn't have to withhold income taxes every time they give you a coffee cup or a shirt.
We would buy a lot of $25 gift cards to hand out at Christmas you could do that and give them all to one employee. The company could also go shopping at Costco for a company party and break room supplies. Get enough food to feed 50 people then not have the party but chock up the expense to the company and donate the food.
Our company once sent thousands of dollars to a funeral home when and employed lost a son who was also another employee's brother. You might offer something like that from the company like picking up his medical deductible or lend the family a money then never collect on the loan.
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