Joe's on foot for the present (4)
I believe the answer is:
gift
'present' is the definition.
(synonyms)
'joe's on foot for the' is the wordplay.
'joe' becomes 'GI' (GI Joe).
'on' is a charade indicator (letters next to each other).
'foot' becomes 'f' (abbreviation).
'for' says to put letters next to each other.
'the' becomes 't' (the is pronounced as a 't' sound in some dialects).
'gi'+'f'+'t'='GIFT'
(Other definitions for gift that I've seen before include "Offering" , "Present - natural aptitude" , "''Never look a .... horse in the mouth" , "Donation" , "Give away" .)