FIND THE ANSWERS
Is my accountant WRONG?
Free e-mail watchdog
Answer this question
Is my accountant WRONG?
Answer for question:
| 19/12 2013 19:04
You will be happy to know that yes, he is being taxed on it regardless if at the time he chooses to give a little more to his client in net pay by lessening their tax liability. There simply is no way that a person could deposit a check into their bank account without IRS knowledge somewhere down the road. Most likely at the end of the year...he is taking from his business checkbook what is called a shareholders distribution. If he is the president he owns all shares. Once a year, that person can take a check and it can be quite large and it need not be taxed. On the other hand, if he receives a bonus and does not immediately withhold taxes, then, he will pay the tax on it at the end of the year as well as any other monies that he has taken.
| 19/12 2013 19:37
Your question is confusing - if this is a bonus check paid from an employer to an employee = of course, it needs to be taxed like all other payroll checks. Additionally, like all other lump sum or special payments it needs to be taxed at the supplemental pay tax rate of 25% federal withholdings. If the company wants to give you a flat amount check, they can always do a gross up to determine the flat amount check. This means if they want you to get $1000, they can determine what the taxes would be for so that you can get the $1000 check. For example, it might be $1300 minus $300 taxes = $1000 for your hands, so you actually grossed $1300 on this check.
How did the ideas of the philosophers of ancient Greece and Rome get lost for so many yers?
What structure did they set in place to prevent any citizen from becoming too powerful in ancient Greece?
One effect of rugged mountainous geography on the civilization of ancient Greece was the developed of?
How wide is the iceberg that hit the titanic?
In what ways might history of the Peloponnesian War have affected people reading it in ancient Greece?
What is pokediger1 password
PCH I would like to claim my search and win my 10X Entries for $10,000.00 Now so I could pay off all of my bills, and bu...
I am a disabled vet, and I would like to claim my VIP 10X Entries to win $5,000.00 a week forever, I would Love to win s...
Thank you for this moment and opportunity for PCHgwy 4650 $50,000.00 cash loyalty honors AWARD I'm very very very greatf...
Where can I get my name on the list for 10x the entries at
Login to your account
Create new account
What is a bid yield?
What effects might a ceiling on the price of fast-food hamburgers have?
Zillow Phone number, Could you supply their phone number - I can not seem to be able to locate it on my own, I am in the US, Thanks?
Where can i exchange one hundred baisa into US dollars?
I have tax questions. Halp me internet you are my only hope.?
Weknowtheanswer.com © 2014. All rights reserved.