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A bonus from your employer is not a gift and is strictly income. It is in no way a gift and cannot be considered as such. It is income from your employment and is reported as wages on your tax return. The employer is required to pay half of the social security and medicare taxes and to deduct the other half from your bonus check. The bonus is the same as any other income and must be treated as such.
What else can I help you with?
Will your retention bonus be taxed as normal pay?
Yes. Because it is.
Should you be taxed in 2008 for a cash bonus received in 2009?
At whatever time the bonus or receipt of the money was absolutely certain it becomes taxable. Your receipt of it is not the deciding thing at all.
Is money from a EEOC lawsuit taxable?
Yes-if you get a settlement from the EEOC it is taxable. If it is considered wages it is taxed at the rate your wages were taxed. If it is compensatory damages it is taxed at a lower rate but it cannot exceed 50% of the settlement.
Can a bonus check be taxed at a different rate then pay roll check?
Shouldn't be. It is the exact same in all regards for income tax, and simply income from employment. Some companies have rules disallowing matching contributions to or such to 401k on bonus, but that is not taxes.
What is the earning threshold for a child to pay taxes?
The child's income is essentially considered the income of the parent...so it is taxed at their rate, and presumably they have enough income to be taxed.
Are end of the year bonuses from work taxable income and if so should the bonus be added to your regular pays gross income and then taxed or should the bonus be a separate check taxed individually?
Yes, they are taxable income to the recipient. Whether the bonus is paid with regular income or as a separate check is immaterial. Bonuses are considered regular income by the IRS and taxed same as regular income is. The bonus is included in box 1 of the W2 as gross wages.
Will your retention bonus be taxed as normal pay?
Yes. Because it is.
How can you send a bonus gift on WeeWorld?
when you select a gift it should have options for all gifts, newest, price, or bonus. if you have bonus gifts, you can select one there.
What are bonus gifts on WeeWorld?
Ok...First Of All Bonus Gifts Are a gift you get for free..First pick a gift(Must have bonus gifts)Then find a Friend then just click Send.
Where do you check for the bonus gift code in the Disney dvds?
in the back of the Disney DVD there is a little square where it says bonus gift that's where u check
What was the Wheel of Fortune bonus puzzle for February 23 2012?
Housewarming Gift was the Wheel of Fortune Bonus Puzzle for February 23 2012housewarming gift
Why is MY employer taxing MY retention bonus at 40 percent?
Your employer is not taxing your retention bonus. Your employer is following the IRS rules that say your bonus is earned income, and as such, it is taxed just like other earned income.
Should you be taxed in 2008 for a cash bonus received in 2009?
At whatever time the bonus or receipt of the money was absolutely certain it becomes taxable. Your receipt of it is not the deciding thing at all.
Are loans taxed as income?
Loans are not taxed as income because they are considered borrowed money that must be repaid, not earnings or profits.
Is vacation time taxed when paid out?
Yes, vacation time is generally taxed when paid out as it is considered taxable income by the government.
What was the Wheel of Fortune bonus puzzle for October 12 2012?
Valuable Gift was the wheel of Fortune Bonus Puzzle for October 12 2012
What is the best gift for your boss to give you around the holidays?
Raise/Bonus Gift Card Days Off Holiday food Jewelry
