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re: Question about my taxes...
Posted on 11/3/10 at 11:17 pm to LSUCrawdaddy
Posted on 11/3/10 at 11:17 pm to LSUCrawdaddy
So your employer is askikng you to increase your 2010 taxes so he can decrease his. Based on your gross pay your taxes won't be increasing due to higher rates in 2011. They may increase due to loss of credits, but having less income won't have much effect on that. I wouldn't take the deal without some sort of bonus for the time value of the additional taxes you will be paying in 2010 versus 3011.
1
Posted on 11/4/10 at 10:26 am to Poodlebrain
Thanks everyone. I know the only reason behind this move is to save the company on payroll taxes for 2010; or at least that’s the assumption of the employer. And yes, there will be a bonus and it better be BIG as this was the best year we have ever had. Total sales wise and most importantly, profit.
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