If I bank my senior promotion bonus and get fired due to performance or laid off before the deferral pay date, will I collect the 25k on my termination date?

likefunny
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Also if you bank the bonus and stay to collect, if it happens to be another promo year you still get the Promo bonus and the bank bonus...I asked lol

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Lol tax deductible. Are you even an accountant?

likefunny

All I'm getting from this is that auditors don't know how to tax

likefunny

Hard no

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AA1 those numbers are incorrect

likesmart

Partner here: the answer to OP is no, you would lose it all. However, no one knows whether you have elected to bank your bonus or not unless you tell them.

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EY3 immediate vest

likesmartfunny

3k is ridiculous, move to CBS finance... Way better

likesmart

If you bank the bonus the EMs will have your name on a list. They own you for 3 years, high hours on the crappy jobs

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You get 25k when promoted to senior?!

likefunny

Would you tell the right #s then EY2? 🤷‍♀️🤦‍♀️
You get 5k (tax deductible) at senior promo and if you decide to bank it, you get 25k (tax deductible) in 2021. If you voluntarily leave you forfeit the amount. No idea what happens with you get laid off.

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EY1 is incorrect

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Tax deductible? Or gross, as in before taxes?

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If you get fired with cause, you don’t get the $5k.
If you leave voluntarily, you don’t get the $5k.
If the firm lays you off without cause, you get the $5k.

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They get $3k as a senior bonus or they can defer the payment and get $25k as a manager instead.

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3 years is a long time in PA lol

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KPMG1 - no I’m not I said it like I understand it like a layman which I am when it comes to anything accounting and taxes, For the sake of all that is real, will y’all stop like STOP assuming that everyone on here is an accountant or has everything to do with PA!? Y’all know there’s advisory side to all consulting firms right? And not all those advisory ppl went to finance school or whatever they are called?
Also EY 10- thank you tell us more 🙏

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Oh I’m not American. And I understand as much as I need to. Thanks tho, EY likes me.

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5k before tax now or 25k before tax in three years

Engagement managers are not getting a list and just because someone took the package is no reason to screw them over with additional work.

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