never runs the tangents
I get a yearend bonus but I don't actually get my grubby little hands on it until early March. DH gets a year end bonus too but he also gets a Christmas bonus. Thing is though, what he gets are two $100 Visa gift cards. That's great and all except that they declare it on his first check of the year as income so he gets hit with the taxes on it. Generally this time of year he has a fair amount of overtime so he doesn't really notice it.
What I think is odd is that they time it so it arrives in the mail just after Christmas. His company claims that they don't want it to arrive before Christmas because they want the employees to buy something for themselves with it and if it came before Christmas people would just use it to buy other people Christmas presents. That makes no sense to me. We don't have kids but if we did I would think that a $200 jump start on buying them presents would be a fantastic way to spend a Christmas bonus.
Am I the weird one here because that is always a very real possibility.
“Do what I do. Hold tight and pretend it’s a plan!” Doctor Who
Shakedown Street
hate to break the news to you, but anything over 30 bucks (I think de minimus cut off) is income.
FWIW I don't get one. I am the employer. Everyday my employees come to work is my xmas bonus.
Started-5/12, RWOL refugee,5k-24:23 (1/12/13),10K-55:37(9/15/12),HM-1:52:59(3/24/13)
Anything received from the employer is income so yes, it is income, even if they were gift cards.
I work for the government so we have not received a raise in 4 years, least of all any bonus. So, no.
I have never seen anybody giving the bonus post end of the year, but the employer is not obligated to give you any bonus and they can give it to you at any time of year.
Damaris
As part of the 2024 London Marathon, I am fundraising for VICTA, a charity that helps blind and visually impaired children. My mentor while in law school, Jim K (a blind attorney), has been a huge inspiration and an example of courage and perseverance. Please consider donating.
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YAYpril - B-Plus
Yes, I do. It's technically a "performance" bonus but we get them in the last paycheck before Christmas. About 1/3 of it gets taken out for taxes though.
Trail Monster
I don't get a bonus and I got my first raise in 4-5 years this year. I depend on working a ton of overtime whenever I can to make it through Christmas, birthdays and slower periods.
2013 races:
3/17 Shamrock Marathon
4/20 North Coast 24 Hour
7/27 Burning RIver 100M
8/24 Baker 50M
10/5 Oil Creek (distance to be determined)
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I'm surprised every year how much of my bonus gets nailed in taxes. I know it's that they annualize that check so it looks to the withholding tables like I make a crazy amount of money so logically I get it but still, every year I'm shocked again.
Oh DH is in payroll so he's fully aware that this is taxable, he would just rather than $200 cash so he could pay taxes out of it instead of gift cards. We figure his company is getting some sort of deal on those cards or something though.
They HAVE to calculate it that way. It's required.
Are we there, yet?
I don't get a Christmas or year-end bonus now, but one of the oddest ones I got many years ago in the only union job I've ever had was a $10.00 bonus. The check had to equal exactly $10.00 since that's what the union contract specified, so payroll had to do some interesting calculations with all the various federal, state, and local taxes and any other withholdings to get the checks to equal exactly $10.00.
2024 Races:
03/09 - Livingston Oval Ultra 6-Hour, 22.88 miles
05/11 - D3 50K 05/25 - What the Duck 12-Hour
06/17 - 6 Days in the Dome 12-Hour.
Chairman
Normally, I get a 15% year end bonus, but our year end is February.
Coalition for a Free and Independent New Jersey
I don't. I work for a Jewish day school. My bonus is not having to deal with an employer that gives me grief for not working on the major religious holidays and leaving work early on Fridays.
I get annual profit sharing in late February, but no actual "Christmas bonus". I did get a $30 check for 1 day of jury duty recently, so maybe that's my bonus lol. I was just happy not to get selected to stay all week.
Lucky. I had to repay it back to my employer. They did pay me full salary for the day, so it's fair.
It strikes me funny that you have to do jury duty. I bet you get excused in a hurry!
I work for a mom-n-pop outfit, so nothing official, but she does send me a little something extra to say "thanks for a good year."
For some reason, Plaintiff's attorney thought a DOJ attorney had time and would rule in his favor. I know I am a prosecutor, but I had to be fair and after the whole trial, it was a no go for him.
It strikes me funny that you have to do jury duty. I bet you get excused in a hurry! I work for a mom-n-pop outfit, so nothing official, but she does send me a little something extra to say "thanks for a good year."
Chief Unicorn Officer
Damaris, I have always wanted to be on jury duty! I think it would be fun. I would probably get axed in the early voir dire though...I can see myself saying "but he got arrested. He must be guilty!"
No Christmas bonus here. I work for a broke ass county that actually had to borrow money to cover the regular payroll for the last two years.
Mile 5:49 - 5K 19:58 - 10K 43:06 - HM 1:36:54