Signing Bonus 1099-Misc?
02-21-2017, 06:55 PM
#3
Gets Weekends Off
Joined APC: Feb 2016
Posts: 2,559
It doesn't matter how "all different regionals" are handling the bonus, only how yours handles it, for you.
But since you asked, EDV includes our bonuses into our pay, so it's all covered on the W-2.
Bonuses are typically withheld at 25% at the federal level. The rest depends on your state and ALPA and other things held from your pay.
37.6% sounds a tad high, but it's hard to say, only you know your own tax situation.
But since you asked, EDV includes our bonuses into our pay, so it's all covered on the W-2.
Bonuses are typically withheld at 25% at the federal level. The rest depends on your state and ALPA and other things held from your pay.
37.6% sounds a tad high, but it's hard to say, only you know your own tax situation.
Originally Posted by PotatoChip
How have all the different regionals distributed their signing bonuses? Are pilots getting 1099-Misc's, or are they seeing this reported other ways?
I received a 1099-Misc for mine, and from $15,000 I was promptly taxed $5,640....
I received a 1099-Misc for mine, and from $15,000 I was promptly taxed $5,640....
02-21-2017, 07:02 PM
#4
Layover Master
Thread Starter
Joined APC: Jan 2013
Position: Seated
Posts: 4,310
Originally Posted by HighFlight
It doesn't matter how "all different regionals" are handling the bonus, only how yours handles it, for you.
02-21-2017, 07:03 PM
#5
Gets Weekends Off
Joined APC: Dec 2016
Position: Line holder, barely
Posts: 256
Originally Posted by PotatoChip
How have all the different regionals distributed their signing bonuses? Are pilots getting 1099-Misc's, or are they seeing this reported other ways?
I received a 1099-Misc for mine, and from $15,000 I was promptly taxed $5,640....
I received a 1099-Misc for mine, and from $15,000 I was promptly taxed $5,640....
02-21-2017, 07:17 PM
#6
Gets Weekends Off
Joined APC: Feb 2015
Posts: 591
Originally Posted by MidLife
Tax was withheld. The actual tax depends on your situation. You may get some returned when you file your tax RETURN...
02-21-2017, 08:13 PM
#8
Gets Weekends Off
Joined APC: Feb 2016
Posts: 2,559
That's pretty damn funny. You have no idea to whom you are talking to about taxes. For all you know, he's a millionaire and pays more taxes per year than you make.
Originally Posted by squib
Unfortunately you will some day find out that you don't always get a "RETURN."
02-21-2017, 08:14 PM
#9
Gets Weekends Off
Joined APC: Feb 2016
Posts: 2,559
I answered your question. Sorry you don't like the answer. But it was accurate in every respect. If you didn't need the lesson, then you would have understood that you were not "promptly taxed $5,640".
Originally Posted by PotatoChip
Wow. Thanks for enlightening me. I asked because I want to know, I don't need the lesson.
02-22-2017, 03:37 AM
#10
Happy at PDT
Joined APC: Jan 2014
Position: EMB-145 CA
Posts: 983
With the 1099 you are adding un-taxed income at the end of the year to your total income. The taxes on it have to come out of somewhere, and it does depend on your situation. Did you claim a lot of exemptions on your W-4?
My airline adds the bonuses into our pay, from everything I've seen, and are taxed right away. In that situation, paying more tax in the end is usually a product of what you claim, deduct, your bracket, etc..
My airline adds the bonuses into our pay, from everything I've seen, and are taxed right away. In that situation, paying more tax in the end is usually a product of what you claim, deduct, your bracket, etc..
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