Condominiums Juegos Sonic FSBO | Bonuses At Work Are A Taxable Event So Beware - Payroll Accounting Reminder
condominiums Not long ago, I was sitting at Starbucks and a Good Ole’ Boy walked in and he’s been a local business man in our town for over 40 years, and he had people working for him for over 35 years so he must be a pretty good guy. He explained to me that he was able to keep his workers happy because he gave them cash bonuses, and he treated them well. He took care of his workers, and it was one big happy family.
juegos sonic Unfortunately, with all the rules and regulations, and accounting standards that we have, along with all the taxation and payroll rules one could get into a lot of trouble if they give out bonuses at work in cash. Now this gentleman owns a small business and I doubt if he does more than about 5 to 10 million per year, and he means well and follows the rules the best he can.
FSBO He loves his employees and I am pretty sure he wasn’t pulling my leg because he walked out of Starbucks with four trays full of Frappachinos that he was obviously taking back to work.
Still, depending on how he goes about his business he could be creating for himself a legal liability and a real tax problem. They actually throw people in jail for this, those people that try to avoid payroll taxes.
Now I’m sure if he got in trouble for this that he would settle out of court for some kind of ridiculous fine, and he’d be very upset with the government, and probably become even more cynical in his old age than he probably already is after the years of rules and regulations and bureaucracy. Nevertheless, the rules are what they are.
So, I’d like to remind you that bonuses at work are a taxable event, and if you are giving cash bonuses to your star employees, you’d better do it right. I hope you will please consider this You can be published without charge. You can to republish this article in your website or blog. Please provide links Active.
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Tags: business accounting payroll, Condominiums, FSBO, juegos sonic
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