$7500 sign on bonus?

thanks man. I needed that laugh.

 

be prepaired to loose 60% of any sign on bonus in taxes. I still haven't got a straight answer on how they get away with that crap.

 

When they say $7500.00 sign on bonus,what they fail to mention is you have to be at that company for so many yrs.

 

I don't know the reason/law behind it, but I do know from a previous non-trucking job that bonuses are taxed at a much higher rate than normal wages. At that job, I received quarterly bonuses for reaching sales quotas. The bonus was $1000, but after taxes, I only actually took home about $650. Supposedly, I got most of that back at tax time, but I don't remember seeing much of a difference. Also, they told me that bonuses are taxed at about the same rate as game show and lottery winnings...

 

Bonuses (or any supplemental income) have a federal withholding rate of 28% when you receive the check. However, when you file your taxes, the bonus is treated as regular income, and if you overpaid on the withholding, you would receive the overpayment back.

Simply put, if someone receives a base salary of $25,000 and gets a $20,000 bonus at the end of the year, the net tax would be the EXACT same as someone with a base salary of $45,000.

 

Don't be hating..

Business as usual..all companies play this game.

 

How is it a bait and switch? He gets 7500 bucks, if he had asked I'm sure the recruiter would have told him it paid out quarterly. He doesn't have to worry about idle and he still gets a bonus, how is that bad?

 

You're all wrong... It pays out starting with your first month..... 20% of bonus till gone.... 7500=1500.00..... 6000.00=1200.00 2nd month n so on till it's all paid