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Joined on current company: November 2021
Current CTC: 7.26 LPA( 6 fixed and 1.26 variable pay) Offered CTC:13.2 LPA (fixed: 12 and 1.2 variable pay)
Total years of experience: 5.5 years
Note:
I got another offer by got call from applied long time before job.
Just i tried and cracked.
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It is considered compensation so it is taxed
Yup D1 is correct ^. IRS determines this is taxable income
It’s a sign on bonus so taxes are probably withheld at the supplemental rate. Doesn’t matter what you are using it for, it’s a cash payment.
Adding on to this, even if it wasn’t a sign on bonus (I.e. you were already working there and they reimbursed you for the cost of the certification) this would still be taxed. My company paid for my CPA review materials, without me ever having to front the cost and I was still taxed on the cost of the materials as if it were income.
Thanks everyone!
Ask for it in cash under the table and the. You won’t have to pay taxes on it