Signing Bonus 1099-Misc?
#21
Gets Weekends Off
Joined APC: Mar 2014
Posts: 3,094
I claim about 10 exemptions for the sole reason that I do not want a refund. A refund is an interest free loan to the government not adjusted for inflation. I would much rather pay $1000 at year's end than get a $5000 "refund". It's not a refund, you are losing money.
I sinply wanted to know if other airline were including this income in employees W-2's. I knew mine was a 1099, and I expected to be taxed appropriately $3,500. It was more than I expected. Thankfully, I'm not so stupid as to have spent it all.
I do not like the way C5 handles it. I'm not sure why they do it this way, other than it must somehow help their bottom line, likely in how they claim their taxes.
I just wanted to know if all other airlines were doing the same. I was not looking for unsolicited tax advice.
I sinply wanted to know if other airline were including this income in employees W-2's. I knew mine was a 1099, and I expected to be taxed appropriately $3,500. It was more than I expected. Thankfully, I'm not so stupid as to have spent it all.
I do not like the way C5 handles it. I'm not sure why they do it this way, other than it must somehow help their bottom line, likely in how they claim their taxes.
I just wanted to know if all other airlines were doing the same. I was not looking for unsolicited tax advice.
#22
Gets Weekends Off
Joined APC: Feb 2016
Posts: 2,559
$3500 is not an appropriate amount of withholing for a $15K bonus. Federal alone is $3750. Then you have to take out all the other stuff such as state, ALPA dues, SS, Medicare. The exemptions you claim on your salary doesn't affect a bonus payment.
#23
Layover Master
Thread Starter
Joined APC: Jan 2013
Position: Seated
Posts: 4,311
Are you illiterate or just really difficult? Or you do you just like to purposefully be an a$$.
My guess for FEDERAL TAXES WAS $3500. You're telling it's $3750.
In other words, I WAS PRETTY CLOSE.
#25
New Hire
Joined APC: Jan 2017
Posts: 25
Yes, correct. My guess is that I have to pay out of pocket until I get a check from the IRS for my corrected W2.
I still haven't found someone that's paid back their bonus. There has to be guys being pulled up to mainline that don't finish 2 years. I guess once they get the job, they stop trolling these forums.
I still haven't found someone that's paid back their bonus. There has to be guys being pulled up to mainline that don't finish 2 years. I guess once they get the job, they stop trolling these forums.
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