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When that bonus check hits 🥰
Hi fishes! My spouse is planning to go to India but we would need to get her visa stamped before coming back. I see that getting appointment is such a huge problem right now. Can we get her visa stamped from a different country? In this case, we were considering Qatar, she grew up there and has her brother there. For what it’s worth she qualifies for Dropbox in India. How do I find out if Qatar works in our case?Deloitte
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Bonuses aren't taxed any differently than salary, just more is withheld when you get it. It evens out at tax time. Still better to get a raise than a bonus of course since bonuses are one-off
I am continually shocked at the percentage of professionals that don't know the difference between taxes owed vs. withholdings.
Yes
Get a hike in your salary instead. Bonuses are heavily taxed.
Get someone to pay you as a bonus the fee you're giving up
Withholding on bonuses is flat 25%. Withholding on your salary is based on your rate of pay throughout years and is less. The tax paid is the same as D1 said. Eventually the withholding is similar to your regular paycheck when you are making $$. It's not very different for me. And yeah, you agreed, so expect to pay it back.
Thanks guys. I was obviously planning to stay the full 3 years and still not sure if I will leave. The contract says I have to pay back the pre tax amount though I read the IRS regs about getting the difference back.
3 years? Holy shit, mine was only 2 years
I think the MBA sign ons are all standard 3 years. Based on the situation the OP most likely is an MBA grad
They will get it back.
How many years of service until you keep bonus?
Clawed mine back
SC1 - 🤦🏻♂️
Also check your contract. It should be written in there. Believe you will have to pay back the full amount pre tax in cash even if you only got it post tax. Next year when you do your taxes EY should adjust your gross income so you should get the tax portion back but that is one year later. Either don't do it or negotiate with your new employer or put up with the deferred pay back