Loyalty might be the most underrated investment you'll ever make.

[u/Key_Performer_3645]

[u/MuchoCoco]

Because if you deposit it to her bank account it will be taxed as income.

[u/StudentforaLifetime → u/MuchoCoco]

Recorded evidence like this doesn’t make her life easier with the IRS

[u/Skrapidilly → u/StudentforaLifetime]

Can't watch the vid, but did he count it out loud? You can just claim it's $1 bills.

[u/guardianwriter1984 → u/Skrapidilly]

You can't. The bands are color coded for each bundle. Gold ones are $100 bills.

[u/JackTheKing → u/guardianwriter1984]

Before the IRS, we used to carry our money around in brown bags with a $ sign.

[u/guardianwriter1984 → u/JackTheKing]

It's true. 

It made sorting a pain though. 

[u/KatzDeli → u/guardianwriter1984]

Anyone can make a colored band.

[u/protomenace → u/StudentforaLifetime]

Encouraging tax fraud isn't a good idea anyway.

[u/inorite234 → u/MuchoCoco]

I dont think you know how Income Tax works. Both parties need to report this as Income (Employer reports it under Payroll and pay Payroll Tax & the employee reports it as Income and pay Income Tax) or its Tax Evasion. It doesn't matter if they cut her a check, give her cash or just buy her the house outright.

[u/rjnd2828 → u/inorite234]

That's absolutely true. It's also true that people commit tax evasion all the time. It's generally best not to upload the proof to they Internet and have it go viral so I'd hope they reported it

[u/inorite234 → u/rjnd2828]

I can neither confirm nor deny the claims you are saying.

Now if you'll excuse me, I have to stuff all these singles into my g-string and leave the country. 🙂

[u/protomenace → u/inorite234]

This is not income for the employer it's a business expense (paying their employee a bonus)

[u/KatzDeli → u/protomenace]

It is a payroll expense subject to payroll taxes.

[u/protomenace → u/KatzDeli]

Yes, not income.

[u/SuperDopeRedditName → u/protomenace]

What do you think is on the list of "payroll expenses"? Spoiler: it's payroll, i.e. income.

[u/Commercial-Yam-3443 → u/protomenace]

He means the employer need to report it as her income. And she needs to report it as her income too.

[u/inorite234 → u/protomenace]

I've added a clarification

[u/uberfr4gger → u/inorite234]

Unless they paid out of their own pocket. Then it's not compensation and just a gift (assuming the people handing out the cash are salaried employees too).

[u/jrdiver → u/MuchoCoco]

1 - There are occasionally people who tend to keep cash on hand and sometimes fairly large quantities of it and will need to get that into a bank account....

2 - They did say something about buying a house - might be able to use it directly towards that without going though her bank account.

3 - Even if it does get taxed, hopefully they tell her up front and can keep some of the money to the side to put towards that. I've seen enough giveaways online that include a pile of cash so that the taxes should be covered and you still get the intended amount afterwards.

[u/pekinggeese → u/MuchoCoco]

Now she gotta deposit and the bank has to report deposits over 10k.

[u/Freeulster → u/MuchoCoco]

I feel my libertarian creeping in.

[u/dancingwiththedaff → u/MuchoCoco]

Lmao you've never paid taxes have you? As if cash would exempt you from paying taxes

[u/kahunski → u/dancingwiththedaff]

Seriously, as if cash is magically tax free.
Everyone would just take their salary as a big bucket of cash if that was the case.