Which company gives good joining bonus
Mar 6, 2019
21 Comments
I am in credit card dept. my strategy is to pay it off by doing job change . Which company gives good joining bonus ? I am L63 at microsoft.
I have 85k in credit card dept :)
How much did you get ?
comments
There are two main accounting methods for paying bonuses and withholding: Aggregate and Flat.
Aggregate = (Bonus + Regular Earnings) x normal tax withholding.
You are taxed as though youβre making millions every two weeks, but get back the excess when you file taxes.
Flat = Bonus x (22% federal rate + FICA + state )
This model holds as long as a few criteria are met:
1. Bonus < $1 Million
2. Bonus is separate check.
If you really want to maximize your return on bonus, you may elect to change your W4 withholdings. Keep in mind this will ONLY work in the Aggregate method - By law employers who elect to use the Flat method may not collect less than 22% Federal taxes.
Please explain how you got into that much debt :-)