Opening Gifts?

[MsLaura529]

Interesting reading all the different replies.

I receiced one today at pick-up, dcg is not even a year yet, so it wasn't like I had to make a deal about it for her. And pick-up is a crazy time, so I just said "thank you so much" and put it up on the shelf. I opened it after they left and will give them a thank-you note next time I see them.

Now, I was told by one dcm that her boy specifically picked out my gift and she said she can't wait to see me open it to see my reaction, so that I will be opening in front of them. So I guess it depends on thr timing and child.

[misslori50]

im opening mine at our party

[Shell]

I never open in front of parents. I generally don't get excited about gifts (from anyone) - I actually prefer not getting gifts because we have enough crap in our home, etc - and I'm not good at pretending... so I'd hate for a parent to expect a better reaction than I'm likely to give.

I guess I'm a bit of a Grinch. Oh well.

Guess I am a Grinch, too. I always wait until the parent leaves, and open it with the child. I can act the part for the child, because they genuinely enjoy getting a gift for me, and that part is so sweet and innocent. But otherwise, I don't really like getting gifts because I don't know where to put it all either- like the santa mugs and random lotions- I am extremely organized, and this kind of stuff is hard for me to find a place for, and makes me feel guilty if I re-gift it or toss it.

[TomCopeland]

gifts

Tax implications of gifts from parents:
If the gift is cash or a gift card, it's taxable income.
If the gift is not cash or cash equivalent, it's not taxable income.

If you spend the cash or gift card on something used in your business, you can deduct it using the normal rules of deductions.

If you use the item given to you in your business, you can deduct it using the normal rules of deductions. If you don't know the price of the item, look it up online or guess the value.

Happy Holidays!