Holland | holland payroll gangsters and thieves

I don't know, I have heard that but I hear a lot of things from people who don't have a clue. My 1040 has a line for gross income, I don't recall seeing a line to put bonuses on. I like the claim that I hear all the time that, "I don't want to work too much OT because I'll pay too much in taxes". :duh: There isn't a separate line for OT, there is just one line for gross income.
My information comes from the same place that's why the ? figured one of the resident experts would set me straight
 
401k money comes right off your gross pay amount, that's why a 401k is called "pre-tax contributions".

You pay the taxes as you draw it out later in life. The benefit is that you are contributing the full amount that you selected to go into you 401k account......before you lost any taxes.
 
Sometimes a bonus will put your gross pay at a high enough level that it jumps you up a tax bracket or two, which means you will lose more in taxes that week because of the higher income.
And then there is this line of thinking
dallasj said:
The bonus wasn't bad I can't believe nobody is pissed with the amount of taxes stole from YOUR bonus , that U worked for, more people need to wake up to this!
It sucks, but there is a reason. Bonus checks are considered by the IRS as unearned income, also known as capital gains and are subject to a federal withholding rate of 25%.
 
A corporation has two options for taxing your bonus.
Option #1......
The IRS specifies a flat “supplemental rate” of 25%, meaning that any supplemental wages (including bonuses) should be taxed in that amount. If you receive a $5,000 bonus, under this rule, $1,250 (25% of $5,000) goes straight to the IRS. Using this approach, the amount of your bonus – whatever it is – is “singled out” from the rest of your income and taxed directly. Employers frequently choose the percentage method because it’s easy and mindless to tax the entire bonus at a uniform rate.

Option #2
The aggregate method (described below), in addition to being more time-consuming and laborious for employers, can take a bigger tax bite out of your bonus payments.

The problem with this approach is that instead of being taxed at a flat 25% – and having that 25% rate apply only to the bonus amount – you get taxed at what is almost certainly a higher rate on the combined amount of your normal pay and the bonus. The result: a higher overall tax obligation for the same amount of income.

http://blog.turbotax.intuit.com/inc...onuses-are-taxed-and-treated-by-the-irs-8003/
 
A corporation has two options for taxing your bonus.
Option #1......


Option #2




http://blog.turbotax.intuit.com/inc...onuses-are-taxed-and-treated-by-the-irs-8003/
And for yet another opinion
ScotchNeat said:
It sucks, but there is a reason. Bonus checks are considered by the IRS as unearned income, also known as capital gains and are subject to a federal withholding rate of 25%.
Capital gains taxes are only 15%, that's why Warren Buffet is taxed less than his secretary.
 
My examples weren't "opinions" they are "options" for a company to make, as to how they want to tax your bonus check.

The 25% is easier for the company and better for the employees because then the employee gets more money to keep from the bonus. Adding your normal paycheck and the bonus together raises your weekly income and puts you into a higher tax bracket, and you lose more in taxes because of it.
:1036316054:
 
I believe we did get our money that they tried to short change us from the 401K difference on Friday.
 
They did the same thing with the 750 dollar one last year, they take like 75.00 out for something, I thought it was FICA but I am not sure. It doesn't seem right, if you put pre taxed wages into 401K you would think that 100 percent would go in. I'm tired of bitching, start saving your money for April 2019. I've been through this before and if one of my brothers tells me after two weeks without a paycheck that he is going to lose his pick up truck because he can't afford the payment I am going to stick my foot so far up his ass that your will see my toes when he opens his mouth! Put a couple bucks a week away and in three years we can get through anything!
Finally you make sense...
 
Seems some are confusing the amount of taxes you are paying on that bonus with the amount of taxes withheld on that bonus.
 
Seems some are confusing the amount of taxes you are paying on that bonus with the amount of taxes withheld on that bonus.
I would agree with that. They take out what they anticipate your payment to be but what it ends up being on tax day is another figure. But if it amounts to a refund then the IRS received an interest free loan on that amount.
 
I would agree with that. They take out what they anticipate your payment to be but what it ends up being on tax day is another figure. But if it amounts to a refund then the IRS received an interest free loan on that amount.

Yep, so change your withholding going forward so that you get an interest-free loan from the IRS. ;) Just be careful about the amount you end up owing to avoid penalties and interest.
 
8 months in the time out corner. Succumbed to debating some children like a child. My fault. Pretty harsh sentence, for a pretty harsh post.
My recollection is that you specifically asked to be banned and that you did not care, along with the rest of your tirade. You'd have better served your case if you had left that last sentence out (at least the part about the harsh sentence). I will say that so far you are behaving much better.
 
My recollection is that you specifically asked to be banned and that you did not care, along with the rest of your tirade. You'd have better served your case if you had left that last sentence out (at least the part about the harsh sentence). I will say that so far you are behaving much better.

Semantics. I don't recall asking to get banned, rather I knew that when I posted it would result in a ban and I did it anyway. Kind of like standing up to the bully at school, knowing you would get suspended but do it anyway.

As far as my "behavior", I have a few people on my ignore list. That helps a ton ;)
 
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