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re: Question for tax experts/CPA's and the likes
Posted on 11/21/14 at 1:10 pm to LSUEEAlum
Posted on 11/21/14 at 1:10 pm to LSUEEAlum
quote:
It's gotta be an advantage to them and I'm sure it's a disadvantage to the employees regarding taxes.
How big is your company? Are they a calendar year taxpayer? It could be they are in a situation where they will get the deduction in 2014 vs 2015. But there are a host of non-tax reasons they may be doing this as well. Maybe they are switching payroll companies/programs on Jan 1. Maybe the person who runs payroll is going to be out of town. Who knows.
Unless your income in 2015 is going to be dramatically different than 2014, this won't affect you really. If your income is going to be dramatically HIGHER in 2015, this actually will help you.
1
Posted on 11/21/14 at 1:38 pm to LSUFanHouston
One can only guess at the employer's motivation for accelerating the payroll. As an employee it could cause issues for anyone who has maxed out their 401(k) contributions. I know I would be pissed if I had already maxed my 401(k) contributions based on the expected number of pay periods, and then the employer arbitrarily added another and shorted me one for the next year.
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