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Re: Salary Question: Bonus?

Subject: Re: Salary Question: Bonus?
From: "Ed Wurster" <glassnet -at- gmail -dot- com>
To: "Gene Kim-Eng" <techwr -at- genek -dot- com>
Date: Fri, 29 Dec 2006 08:21:12 -0500

Very complicated, but remember that this creates jobs.

Many employers will deduct 28% for Federal tax, as there is a rule for
that. They could recalculate for the period.

The tax is graduated, so the effect of a bonus is that in the final
analysis, it is taxed at your highest rate, as it is placed on the top
of all else you've earned.

I'd try to forego a bonus for all reasons mentioned, and try to
negotiate a savings plan of some type, where the employer contributes
something additional, or guarantees a minimum of 4 or 5%. That way you
could also contribute, and exempt the money from current federal
income tax.

On 12/28/06, Gene Kim-Eng wrote:

There's no inherent reason why a lot of the tax code should
be the way it is. Nevertheless, certain forms of payment
received by an employee are classified differently from
salary, depending on how they are paid out. In California,
certain specific categories of bonus payment are taxed at
a flat rate that is independent of the employee's normal
tax bracket.

--
Ed Wurster (Voorhees, NJ)
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

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References:
Re: Salary Question: Bonus?: From: Fred Ridder
Re: Salary Question: Bonus?: From: Gene Kim-Eng

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