@jaredbusch said in Company Benefits:
@travisdh1 said in Company Benefits:
@john-nicholson said in Company Benefits:
@wrx7m said in Company Benefits:
@john-nicholson said in Company Benefits:
@tim_g said in Company Benefits:
@scottalanmiller said in Company Benefits:
Bonuses aren't even a real thing to the IRS, it's literally just part of your pay. At least that's how it has always been where I have gotten bonuses. It's just a paycheck with a larger amount in it that normal, the IRS doesn't have a "this is a bonus" checkbox to even know that it is a bonus to be taxed differently. At the end of the year, your bonus is just part of your pay, it can't be taxed differently because there is nowhere for it to show up.
Yeah I get that, it's all just "income", and you get taxed on it all just the same at the end of the year. And if they take too much, you get more back.
I'm talking about what you get in your pocket then and there.
While I'm all for not giving the IRS an interest-free loan! It helps offset dealing with estimated tax payments (horay, extra quarterly payments!)
Even if you owe them money at the end of the year, at least you had some interest while you had it.
Except that I'll owe them penalties.
The problem is if you underpay, then you owe them interest (it's up to 4%, so not a huge deal honestly as you can beat that with a decent portfolio but it's something to think about).
https://proconnect.intuit.com/proseries/articles/federal-irs-underpayment-interest-rates/
Did you really just quote an Intuit article? That alone should tell you that you've completely misunderstood something. They do not charge interest till you are actively late on a payment.
Seriously? Are you just being stupid for no reason? The URL matters not because tax law doesn't change no matter what site you read about it on.
Besides do you know another clean link with a straightforward table showing the information?
This is how little I trust anything coming from Intuit, yes, seriously.