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These free perks are technically income. It seems like a billionaire would prefer to just pay for the food out of pocket rather than worry about the accounting
by nostromo 10y ago
These free perks are technically income. It seems like a billionaire would prefer to just pay for the food out of pocket rather than worry about the accounting overhead of declaring gifts on their income tax.
- thematt 10y agoBill Gates doesn't give a single thought to accounting overhead or tracking things for income tax purposes. He has a team of people whose job it is to do that.
- VLM 10y agoKeep your intake below $38/day to stay under the annual exclusion and it should be OK. https://www.irs.gov/businesses/small-businesses-self-employed/frequently-asked-questions-on-gift-taxes https://www.irs.gov/businesses/small-businesses-self-employe...
- WalterSear 10y agoI'm going to assume that you are a billionaire, wise about tax paperwork. Possibly Buffett.