rp and other accounting people

**2thDoc** · 09-08-2022, 11:12 AM

whats the "best" way to give staff a bonus with the least tax penalty?

**tprice** · 09-08-2022, 11:18 AM

Tax it and be done with it

Some clients will lower Fed/SC withholding for them on bonuses but can catch back up with them come tax time

rp · 09-08-2022, 11:55 AM

Originally Posted by tprice

Tax it and be done with it

Some clients will lower Fed/SC withholding for them on bonuses but can catch back up with them come tax time

This. You try to be too nice to them and they will think you swindled them when it is time to file taxes.

Do a SEPIRA for qualified employees, if you don't already have a plan, and let them deal with taxes when they withdraw early.

Pay for their dental care.

**tprice** · 09-08-2022, 01:36 PM

Originally Posted by rp

This. You try to be too nice to them and they will think you swindled them when it is time to file taxes.

.

Ain't that the damn truth

**FEETDOWN** · 09-08-2022, 11:22 AM

Cash money

**2thDoc** · 09-08-2022, 11:23 AM

Originally Posted by tprice

Tax it and be done with it

Some clients will lower Fed/SC withholding for them on bonuses but can catch back up with them come tax time

run it thru payroll company and label it as a bonus?

Originally Posted by FEETDOWN

Cash money

my first thought....

**Buckin Bronco** · 09-08-2022, 11:32 AM

Pizza party

**First Coat** · 09-08-2022, 11:35 AM

Cash is king you big dummy. Now, assuming it's shown on their W2 at the end of the year, they'll still owe on it. Tell them to be happy, they made more money, now they owe more.

**Gander** · 09-08-2022, 11:36 AM

Send it to Hunter. He'll make sure the Big Guy gets his cut.

**MolliesMaster** · 09-08-2022, 12:34 PM

Buy them all visa gift cards?

**2thDoc** · 09-08-2022, 12:41 PM

we have a simple ira
and free toothbrushes

the right thing to do is run it thru payroll and let the .gov get their cut.

am i the only employer that thinks all the new IRS agents will make my life difficult soon enough? I dont break the rules but I sure as hell dont have receipts for every damn thing....

**turbo** · 09-08-2022, 12:51 PM

Originally Posted by 2thDoc

we have a simple ira
and free toothbrushes

the right thing to do is run it thru payroll and let the .gov get their cut.

am i the only employer that thinks all the new IRS agents will make my life difficult soon enough? I dont break the rules but I sure as hell dont have receipts for every damn thing....

You are 100% not the only one.

I can't wait for my first visit. Mom's stuff just made it exponentially more complicated too.

rp · 09-08-2022, 01:18 PM

Originally Posted by 2thDoc

we have a simple ira
and free toothbrushes

the right thing to do is run it thru payroll and let the .gov get their cut.

am i the only employer that thinks all the new IRS agents will make my life difficult soon enough? I dont break the rules but I sure as hell dont have receipts for every damn thing....

2th, Not knowing who does your payroll, I'd like to mention one thing. Sometimes in a bonus or gift payment situation, payroll companies have withheld at maximum rates. It was a payroll settlement issue once and I saw 31% withheld fed and 7% state. That particular person had to wait 8 months to file her return to get that deal and it was a chunk. Suggest to the payroll prep folks they withhold at standard rates, or whatever extra your employee may want. You are not being charged for this coffee shop information.

**Catdaddy** · 09-08-2022, 01:37 PM

Originally Posted by 2thDoc

we have a simple ira
and free toothbrushes

the right thing to do is run it thru payroll and let the .gov get their cut.

am i the only employer that thinks all the new IRS agents will make my life difficult soon enough? I dont break the rules but I sure as hell dont have receipts for every damn thing....

.

Sent from my moto z4 using Tapatalk

**theoldblackdog** · 09-08-2022, 03:32 PM

Originally Posted by 2thDoc

we have a simple ira
and free toothbrushes

the right thing to do is run it thru payroll and let the .gov get their cut.

am i the only employer that thinks all the new IRS agents will make my life difficult soon enough? I dont break the rules but I sure as hell dont have receipts for every damn thing....

I hope they get electronic toothbrushes at least

**2thDoc** · 09-09-2022, 06:15 AM

Originally Posted by Chuck the Duck Slayer

When has he ever been nice to start with?

internet persona.
couple of staff members have been with me for 25+ years....

Originally Posted by theoldblackdog

I hope they get electronic toothbrushes at least

only the best

**raybird** · 09-08-2022, 02:10 PM

i worked for some crooks once,

A fake DBE getting government scdot contracts and still at it.
they would pay a shitty per diem, then at the end of the year give a “bonus check” to the employees but it was actually the per diem they were claiming to the .gov they paid. 3/4 of the employees were hisapnic and didn’t get a “bonus check” i imagine the owners wrote themselves a nice per diem check.

**ecu1984** · 09-08-2022, 02:17 PM

put some money in an envelope and hand it to them
best kind of bonus ever

rp · 09-08-2022, 03:06 PM

Originally Posted by ecu1984

put some money in an envelope and hand it to them
best kind of bonus ever

I'd do it. Maybe. It all depends on employees. They talk and if one gets pissed because one or others got more, they will call the Dept of Labor. And when the DOL is through with you, they'll call the IRS. I have seen it done. You can't just be nice anymore.

Another scenario, someone wants you to pay in cash. You give them a 1099 and they don't file a return. The IRS runs them down and then you have to pay their taxes and penalties when they say they tell the IRS they thought you were withholding.