Grammy SWAG Bags Are Taxed By The IRS

Grammy's Taxes

It's called SWAG. That acronym stands for: Stuff We All Get.
But you and I don't normally get SWAG bags worth more than $20,000. That's for those Grammy folks.
 

Sounds glamorous, and it is, but dont miss this, all the stuff inside is taxable! This year, Time Magazine's Money section estimates there  are about 40 gifts inside the SWAG bag. For example, a $300 WiFi-powered pet feeders and
$8,000 worth of spa treatments for a week. 

 

But remember, that SWAG is taxable, so how do celebrities get around paying taxes for stuff that may not want? They do what you and I do at Christmas, they re-gift it to avoid extra taxable income.

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