Welcome Guest. Register Now!  



Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 03-11-2009, 10:39 AM
Junior Member
 
Join Date: Mar 2009
Posts: 1
Tax on Performance Bonus

Hi, I have deferred 80% of my performance bonus towards 401K contributions and I have adjust my monthly contribution such that monthly contribution + performance pay rounds off to the max limit that the govt has set.

When I received my performance pay statement, I noticed that my company had taxed me for it while my impression was that 401K contributions within the max limit are not taxed. Please tell me if I have got this all wrong.



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Performance Bonus and CA State Income Tax aggiejeremy California 1 10-31-2008 11:23 AM
Bonus depreciation on software shaui Depreciation 1 03-24-2008 02:10 PM
Tax calculation on re-payment of sign-on bonus maneeshg Income 0 03-17-2008 04:33 AM
Severance/Bonus Pay Received From Another State aaronb Income 0 03-13-2008 12:40 PM
Must I pay estimated taxes immediately after I receive a big bonus? Tanya Estimated Taxes 1 07-30-2007 03:21 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning