All tax people, why is BofA & AT&T giving out $1k bonuses in response to the new tax bill? It doesn't become effective until 2018, which means people won't see the effects until APR 2019. Explain.

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Look around buddy... nothing has to make sense anymore.

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So basic reason is that they get to deduct those bonuses as wages (provided it’s tied to their employment). In 2017 the tax rate is higher for c corps than it will be in 2018. So for a corporation they want to try to defer income (to the lower rate in 2018) and accelerate deductions in 2017 so that their tax bill goes down. This however is the same for individuals so the corps are actually giving their employees less of a bonus, provided they are paying it in 2017. Individuals (most) will see a lower tax rate in 2018, so most employees getting that 1k bonus will be taking home less of it than they would if the company waited until 2018. Most corps, especially those as large as boa and at&t pay estimated taxes throughout the year. So they will see the benefit right away in q1 of 2018. I won’t even breach the deferred taxes benefits. This is about as basic as the explanation can get so it’s not a full description but hopefully you get the picture.

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Public Relations. "See this tax bill isn't just going to pay for our CEO's private jet and 5th vacation house"

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C'mon bro who believes in reality anymore

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We're all just preparing to become anime catgirl avatars in the cloud

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To help strengthen the Trump agenda

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AT&T wants to get on trumps good side so they can go through with their acquisition of time warner.

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@AA1: Great explanation. Thanks and I'm going to share with all of my friends who have been asking.

Our individual clients are trying to take them because they are losing the state tax deduction next year. Accelerate them into this year, and you can deduct the state taxes paid on the bonus. Obv these bonuses are much larger than most get so this doesn’t apply across the board.

Yeah, the deduction this year reduces the income taxed at 35%. Companies want to accelerate as many deductions as they can.

@AA1 I was going to mention the deferred tax aspects, but now I won't.

AT&T just laid off 1200 ppl, they were countering bad press.

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