Q. I received bonus gifts for opening checking accounts, gifts (GPS, DVD player) for trying out a membership club (Travelers advantage), and used multiple survey websites and received gift cards in exchange for points earned. Where do I report such things on my tax return? I have not received any 1099 forms for anything, but I doubt they will send them to be since the amounts are so small.
A. Actually, banks usually will report such gifts as interest ans send you a 1099. But whether or not they do, you're supposed to report it as "other income" on line 21 of the 1040 form.
Michael Plaks, EA, Houston TX
www.MichaelPlaks.com
Michael Plaks, EA, Houston TX
www.MichaelPlaks.com
College guys what would you want to receive as a gift for graduation?
Q. My boyfriend is graduating from the criminal justice field in May. I have NO idea what to get him for a gift. Ive already taken him on a trip for his birthday and an assortment of beers from around the world for Christmas..but I have no idea what to do for a graduation gift? I want something thoughtful and mature since this is a serious occasion. Any ideas?
A. Fountain Pens
Leather briefcase bags and laptop and notebook bags
Dress Shirts and Neckties (He'll need these)
Mens Watches - Dress, casual and sport
Wallets & Money Clips - Nautica, Geoffrey Beene and Dockers
Men's Jewelry - Titanium and Celtic jewelry: Rings, necklaces and bracelets
Cordless Power Tools & Wrenches - DeWalt, Makita, Leatherman and Gerber
Automotive Toys - Garmin GPS, Sirius satellite radio and Pioneer car video
Video Game Consoles - PlayStation 3 and XBOX 360
Apple Products - iPad, iPod Touch, MacBook and iPod Touch
Graphite and Steel Golf Clubs - Adams, Calloway, Wilson and Top Flite
Luggage Sets, Travel Duffles and Suitcases - Samsonite, London Fog, High Sierra and Travelers Choice luggage sets
Peace, Love & Happiness
Leather briefcase bags and laptop and notebook bags
Dress Shirts and Neckties (He'll need these)
Mens Watches - Dress, casual and sport
Wallets & Money Clips - Nautica, Geoffrey Beene and Dockers
Men's Jewelry - Titanium and Celtic jewelry: Rings, necklaces and bracelets
Cordless Power Tools & Wrenches - DeWalt, Makita, Leatherman and Gerber
Automotive Toys - Garmin GPS, Sirius satellite radio and Pioneer car video
Video Game Consoles - PlayStation 3 and XBOX 360
Apple Products - iPad, iPod Touch, MacBook and iPod Touch
Graphite and Steel Golf Clubs - Adams, Calloway, Wilson and Top Flite
Luggage Sets, Travel Duffles and Suitcases - Samsonite, London Fog, High Sierra and Travelers Choice luggage sets
Peace, Love & Happiness
How would you pack if you are bringing an iPad as gift to Canada?
Q. How would you pack if you are bringing an iPad as gift to Canada? Body check point at airport require travelers to take out computers and cameras; however, I am bring a brand new iPad as a gift to my cousin and I really don't want to break the box and stuff.... How would you pack instead? Having it in checked-in luggage would be the only way I can think of but it's just really dangerous, damage or stolen..... Any suggestion?
Thanks for the suggestion. I will actually traveling along, visiting my cousin in Canada.
Thanks for the suggestion. I will actually traveling along, visiting my cousin in Canada.
A. im assuming ur travelling with your cousin, so i guess the only way is too just tell the guards there they wont mind just be like its a gift and i dont want it to be seen so just check it quickly or u can put it in ur checked in, its not rlly dangerous, as long as its tight in styrofoam or sumthing its ok. Just make sure you put it between a lot of clothes, and if ur travelling to america or canada, its highly unlikely that it would get stolen, gl :)
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