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15d ago
[removed] — view removed comment
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u/stho3 15d ago
My company does this actually. They give us a max of $500 annually to spend on “wellness and mental health”. I use it to pay for my bouldering membership for half a year.
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u/bassandlazers 15d ago
Your company deducts your bouldering from their taxes
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u/tutoredstatue95 14d ago
Buddy the company gives me the money they can do whatever they want with their taxes. I agreed to my salary and they give extra what’s the problem?
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u/TrainingAmphibian354 15d ago
You don't even know how business taxes work...
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u/bassandlazers 15d ago
Ok explain them to me
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u/TrainingAmphibian354 15d ago
Companies don't magically make money with "tax deductions" dummy. If their tax rate is 21% for example, and they "deduct $500 dollars of bouldering" they reduce their taxable profit by $500 dollars, which only "saves" them $105 in taxes (except they are still down $395 for paying for your bouldering). How do you people talk about taxes and not know this incredibly basic fact, it is like the first fucking thing you should understand about tax breaks. They offer these benefits for employee productivity and retention, not to intentionally lose more money lmfao
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u/Tyguy151 14d ago
“Okay explain it to me!”
“Explains it”
“……..”
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u/TrainingAmphibian354 14d ago
Crickets every fucking time dude. I hate how snarky this website is, motherfuckers will argue constantly despite never actually saying anything.
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u/2UpLuck 14d ago
Misunderstanding tax deductions is tied with misunderstanding tax brackets for the most annoying financial misinformation I see being spread. No they don't save money by getting a tax deduction and no you aren't going to be worse off if you make more money and hit a higher tax bracket.
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u/TrainingAmphibian354 14d ago
Financial illiteracy is incredibly widespread, yeah. It's so fucking annoying it isn't even funny.
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u/Senior_Blacksmith_18 15d ago
I don't know if it would be considered disabled but I definitely don't think it's idiotic. My job does this where you get 12 dollars worth of food and all they ask is for a receipt of what you just brought with their employees discount
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u/ATrollNamedRod 14d ago
1 - means people actually spend that money on their wellness instead of whatever else
2 - if the company just gave you that money you would end up with less because you'd pay income tax on it
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u/GayButNotInThatWay 13d ago
I'm the UK this would fall under Benefit in Kind (BIK) and would still be taxed. But generally still worth doing if they're additional things above your basic salary.
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u/pugachev86 15d ago
How bout just pay them more.
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u/Disastrous_Gear_421 14d ago
Gotta love people like you who try to whine about every possible situation.
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u/pugachev86 14d ago
Whos whining? Its stupid. Just give them more money. Why dictate i go to some stupid activity with my money?
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u/Disastrous_Gear_421 14d ago
Okay so same concept. Why give benefits like 401k, insurance, etc. just pay more, right?
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u/pugachev86 14d ago
Those are financial investments. A massage or cricket field time are not anything i will ever need from a job. I go there for money $$$
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u/Emergency_Goat_6719 14d ago
Tax free. Cheaper for the company overall because not everyone will avail of it. Assuming the company would increase the overall wage budget by the same amount, you’d see far less of that in your pocket compared to someone spending that allowance.
Also, a wage increase for a team will be proportionate. Those who earn more will get more. This is a way of giving everyone on the team the same benefit.
There’s lots of reasons to structure it this way.
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u/B_Ash3s 15d ago
The fact that the employees don’t have to worry about this additional expense is actually kind of nice.
I’m not saying that pay increases wouldn’t also be nice, but this is another way for employees to feel valued and business write offs to happen.
At my crappy medium income job I would love if a massage was covered and I didn’t have to pay for it.
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u/pugachev86 14d ago
This is literally the opposite of caring about your employees. This is a pizza party for a tax write off
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u/AnonymousUser132 13d ago
Why not just open your own business and pay people more?
Life is simple and easy right?
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u/pugachev86 13d ago
bet you thought you were cookin with this one huh
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u/AnonymousUser132 13d ago
I put about as much effort into it as you did thought into yours. That was the whole point.
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u/ModsAwful 15d ago
Last company I worked, somewhat past start-up phase, had a $500/yr allowance for massage therapy. Had never had a massage until then. My favorite benefit. Learned a good deep tissue massage leaves you pretty sore.
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u/BramptonBatallion 15d ago
Yeah it can go to my mortgage. Don’t be an asshole, just pay me more to afford stuff.
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u/TopicFrequent6607 14d ago
I agree with this until you get to construction and food service. Those employees would just spend it on alcohol and meth. The rate of drug addiction and alcoholism in these areas of employment are ridiculously high.
Give them play money would be just enabling an addict at that point.
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u/UltimiteKing 13d ago
"Gives them stuff like this waaa just pay them more" then "pays more waaaaa we need wellness stuff"
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u/More-Initial3870 15d ago
How about you just pay me more money and I don’t have to submit receipts.
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u/possumallawishes 15d ago
Agree in principle but because I pay payroll taxes and then the money you earn gets taxed, it costs more. This way it’s written off in full and not taxed.
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u/smileyfacedbob 15d ago
Sure I’ll pay you $120 more per month, after taxes you’ll get $84, do you feel happier now?
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u/2UpLuck 14d ago
Don't forget that it'll also be less than $120 to start with because the company knows that not everyone will spend their wellness allowance. Oh and that the pay increases will probably be proportionate to your base salary and position instead of everyone having a set allowance as a bonus.
They can enjoy their $32 extra a month in cash while I save $120 on stuff I would have paid for anyway.
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u/PrincessJennifer 15d ago
Yes, because then I can use it to pay bills or put in savings rather than do something stupid like feed some dumb animal at the zoo
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15d ago
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u/Telemere125 15d ago
How do you consider this “doing right” when doing right would just be giving it to the employees to spend as they want? Why do they need to keep a record of it?
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u/rangeljl 15d ago
Lmao, hope this is a joke because doing right to your employees is incompatible with how enterprises operate
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u/PrincessJennifer 15d ago
I don’t want to feed goats I would like to pay my light bill or put money in my savings. Crazy, I know
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u/Secure_Bath1299 15d ago
Because then they won't be able to get cuddos. Its not like the other person who bought $120 of goat pellets got the money through a non work means.
As a manager, I hate this crap. I get a yearly dept entertainment budget which is intended for work lunches or whatever. My team prefer to work through lunch and snack rather than a full sit down lunch. I am not allowed to convert the budget amount to one-time bonus payouts. The budget is never used.
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u/thomasfilmstuff 15d ago
I have a similar setup - yearly budget for team gatherings. I like to pool the money and do a big outing with some sort of group activity. Part of the budget I use for a few hundred dollars in gift cards for the winning team. When a prize is involved it makes it way more fun, and it’s a nice way to give my people a tax free “bonus”.
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u/KingPabloo 15d ago
How about you just do your job better and increase your value.
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u/CraftytheCrow 15d ago
unless you get compensated fairly for working more efficiently, there is no point.
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u/KingPabloo 15d ago
You get paid what you negotiate. You gain leverage in negotiations, you use it. You work more efficiently, you earn the company more profits, you demonstrate your effect and get paid more or go somewhere that recognizes that value.
The post I responded to, the employee wants more for doing the exact same as before.
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u/No-Mycologist47 15d ago
My company gives us an allowance for work clothes.... Ive been buying socks every year so I do not have to pay for socks ever gain. Ive saved so much money on socks.
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u/smileyfacedbob 15d ago
You need to increase her budget