Are you paying year end bonuses?

Are you planning on paying year end or Christmas bonuses?  Please keep in mind that there are a few tax implications when it comes to paying them out.  If you want to pay them on a separate check then the “supplemental tax” comes into play which is a 25% flat Federal tax in addition to Social Security, Medicare and any applicable supplemental state tax rates that would come out.  By adding the bonus to the employees check the normal tax rates would apply. If you have other questions or concerns please don’t hesitate to call StaffScapes at 303-466-7864. 

Written By: StaffScapes