If you get a Gift Bag, you have taxable income equal to its value.

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Among them: the gift bag approach, which is particularly popular during award season.

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After a while, he spotted a gift bag on the coffee table nearby.

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In general, a person receives taxable income equal to the fair market value of the gift bag and its contents.

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And in some cases, the concept has evolved from the gift bag to the gift suite, where products are laid out for the taking--and, unsurprisingly, photographed as soon as they're snatched--care of gifting firms like the Silver Spoon and Backstage Creations.

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Should we do a one-name-one-gift holiday grab bag?

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But as I walked around various gift shops and watched people purchase bag after bag of Disney products, I wondered what the ultimate fate of most of the goods would be.

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And, true to form, when he couldn't find a bag he liked as a gift for a friend, he decided to make his own, coming up with an entire line of archly simple, high-quality leather bags with a unisex flair.

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Delegates walking past the Brighton Centre were surprised to be handed the gift of a sapling silver birch tree in a bag.

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