BANKING AFFAIRS

Detailed explanation-1: -Based on the U.S. government legal regulations concerning limitations on gift card purchasing, within a 24 hour period: The maximum amount that can be purchased by a single person across multiple gift cards is $10, 000. The maximum amount that can be purchased by a single person for a single brand is $2, 000.

Detailed explanation-2: -Since gift cards can be redeemed like cash, employees need to report gift cards as part of their taxable income. For employers, however, gift cards up to $25 are tax-deductible and must be reported on employee W-2s. Employers should report all gift cards above $25 on their taxes.

Detailed explanation-3: -There is no limit on how frequently you may use your gift card to make purchases or the number of merchants. However, you may not make transactions that exceed the amount of funds available on your gift card.

Detailed explanation-4: -You can create up to 400 Email and Print at Home gift cards on the same order, but purchases of gift cards from Amazon.com and its affiliated websites are limited to up to $10, 000 for any customer in a single day.