Ask Experts Questions for FREE Help!
  Advanced
Register  |  Log in  
   Ask    
 Answer  
  Help  

Ask QuestionsprogressAnswer QuestionsprogressBuild ReputationprogressBecome an Expert
 
Free Answers in 3 Easy Steps

Register Now		 3 Steps

At Ask Me Help Desk you can ask questions in any topic and have them answered for free by our experts. To ask questions or participate in answering them you must register for a free account. By registering you will be able to:
  • Get free answers from experts in any of our 300+ topics.
  • Accept money for answers that you provide.
  • Communicate privately with other members (PM).
  • See fewer ads.

Home > Money & Services > Taxes   »   another sign on bonus question

Answer this Question Ask about Taxes
 
Question Tools Search this Question Display Modes
Question
 
 
#1  
Old Jul 17, 2006, 10:09 AM
sallie jean
New Member
sallie jean is offline 		 
Join Date: Jul 2006
Posts: 2
sallie jean See this member's comment history on his/her Profile page.
another sign on bonus question
Hello,

I have a question about a sign on bonus I just received in May. It was for 21,500 and after taxes I received approximately 12,800 dollars. I have been working for the company for a few months now, and now am moving out of the agreed area for my bonus to be effective. Is there any way for me to return the money to them without having to pay the taxed portion of the bonus out of my own pocket? I have not spent a dollar of the bonus yet, so I have the full 12,800, but I am unsure of what to do about the other portion of the taxed money. I noticed a similar question posted, but I also noticed that by the time the other poster returned his sign on bonus, a fiscal year had passed. Is this a different situation since I have only been there 2 months? Thanks!

Reply With Quote
 
     

Answers
 
 
Old Jul 18, 2006, 03:39 PM   #2  
AtlantaTaxExpert
Tax Expert
AtlantaTaxExpert is offline
 
Join Date: Feb 2005
Location: Atlanta, Georgia
Posts: 9,787
AtlantaTaxExpert See this member's comment history on his/her Profile page.AtlantaTaxExpert See this member's comment history on his/her Profile page.AtlantaTaxExpert See this member's comment history on his/her Profile page.
The taxes that were withheld have already been sent to the IRS, SSA and whichever state you pay taxes to. Now adjustments can be made if the money is returned and your tax withholding must be adjusted.

If you leave the company, you need to make sure the proper adjustments are made.
  Reply With Quote
 
     
 
 
Old Jul 19, 2006, 12:01 AM   #3  
sallie jean
New Member
sallie jean is offline
 
Join Date: Jul 2006
Posts: 2
sallie jean See this member's comment history on his/her Profile page.
Thank you so much!
  Reply With Quote
 
     
 
 
Old Jul 19, 2006, 06:59 PM   #4  
AtlantaTaxExpert
Tax Expert
AtlantaTaxExpert is offline
 
Join Date: Feb 2005
Location: Atlanta, Georgia
Posts: 9,787
AtlantaTaxExpert See this member's comment history on his/her Profile page.AtlantaTaxExpert See this member's comment history on his/her Profile page.AtlantaTaxExpert See this member's comment history on his/her Profile page.
Glad to help!
  Reply With Quote
 
     
Answer this Question Ask about Taxes

« Previous Question | Next Question »

Question Tools Search this Question
Search this Question:

Advanced Search
Display Modes
Linear Mode Linear Mode

 
Similar Sponsors

Similar Questions
Question Asker Topic Answers Last Post
sign-on bonus question thumbsup Taxes 3 Jun 3, 2007 07:38 PM
Return Sign-on bonus dyno Taxes 2 Sep 22, 2006 07:41 PM
sign-on bonus - taxes lovedarain Taxes 1 May 4, 2006 11:38 AM
Returning a sign-on bonus lacroix Taxes 5 Apr 14, 2006 08:11 PM
sign-on bonus taxes coffeegal Taxes 13 Jan 20, 2006 10:19 AM




Copyright ©2003 - 2007, Ask Me Help Desk.
All times are GMT -8. The time now is 02:26 PM.

Content Relevant URLs by vBSEO 3.0.0 RC6 © 2006, Crawlability, Inc.