I believe bonuses should not be taxed. They represent extra income that employees often earn through overtime or additional work, which is not always compensated when you’re salaried. People work hard for these bonuses, and it’s frustrating to see a significant portion of it disappear due to taxes once it’s deposited.
A bonus is actually a gift from your employer. They shouldn’t tax this. I agree with this.
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That’s a really interesting take. I’ve never thought about that before. I have no idea if that’s technically the case or if it would apply to all bonuses…but I like it.
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I like this thought process, if it’s a gift and then any gift that is under $10 thousand can be given tax free, like a wedding, b-day gift, then it should be tax free. Now if it is over $10 thousand, then it should be taxed
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It is absolutely a gift and I agree 100%
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definitely 100% agree on this after they take taxed it’s like we don’t get much not fair BAN TAXES ON PERFORMANCE REWARDS ECT. FOR SURE <3
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You would have to put limits on it. That is no different than just lowering the tax rates or increasing deductions, for outstanding employees only. I believe we just need to do taxes in different way period and there are other policies listed to do that.
Employers and employees would just demand minimum wages and then ask for everything else to be bonuses. If the employer was bad then they would take advantage of the employee because there is no contract for bonuses just wages.
Bottom line it won’t be happening, in my opinion. It just makes taxes more complex and HR more expensive and your wages less.
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Yeah, at 40% no less…It’s criminal!
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Completely agree… I’ve been saying this. They could always put a cap without taxes at 10k. Paying taxes on bonuses that we work so hard to get defeats the purpose.
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