Friday, June 21, 2013

An early start to the weekend

I'm already noticing small changes this week at work, with the departure of one of the company owners. Including a small policy change, just a more upbeat attitude overall (though we have a great staff who has always had great attitudes) and a more relaxed - less frustrated senior management and same with the 2 remaining owners.

Since we met our mid year sales goals already and are having a great month this month in regards to sales $ - the office is closing at 1pm today as a treat to start the weekend early. Not that this has never happened before, but it just feels like it's building on the positive changes that will likely come as a result of this ownership change. So, now I can get my errands done this afternoon and not have to do them this weekend!

I also sent my boss an email with info in regards to how we are taxed on bonus pay. We have a company that does our payroll for us and they have always insisted that bonus pay is taxed at a flat 25% rate, plus social security and medicare of course, which means anytime we get a bonus 1/3 of it is taken out for taxes. I don't know whether these are new IRS rules, or what, but I found online with IRS that there are 2 options for taxing bonus pay and one is basically just at whatever your normal tax rate would be for the pay period for that level of income with the bonus. In my case it would make a difference of $260 more money in my pocket! Granted, I always end up getting it back when I file my tax return, as I am not in the 25% tax bracket, but I'd much rather have that money now then 9 months from now. It will be interesting to see what the payroll company comes back with and if it gets changed.


  1. I bet that even tho it will be a colossal PITA for the company to change it, if enough people squawk about it, they will change it.
    I'd much rather have it in my clutched than be giving DC an interest free loan all

  2. I don't know why companies always tax bonuses at a higher rate. I've tried to fight it previously to no avail. I hope you have better luck.

  3. Getting out early today is definitely a GREAT start to the weekend! Isn't it nice getting the "must-do's" out of the way - more time to enjoy the weekend!

  4. I hope they listen to you re taxes!!!!