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re: Signing Bonuses
Posted on 3/14/16 at 2:59 pm to Tigerpaw123
Posted on 3/14/16 at 2:59 pm to Tigerpaw123
Right.. so yeah I signed a Promissory for 2 years to receive a "bonus" which was taxed as normal income. Now I have decided to quit (after only about 8 months). I'm responsible for paying back the pre-taxed amount right?
1
Posted on 3/14/16 at 3:34 pm to lesgeaux
quote:
I'm responsible for paying back the pre-taxed amount right?
Ouch, yes, you will be responsible for paying back however much the promissory note was for, regardless of taxes, however you should talk to your tax preparer and they should be able to get you the difference between the amount you originally received and the amount you have to pay back
also if another company is trying to persuade you go on board with them, let them know of this situation and they may be willing to help you?
This post was edited on 3/14/16 at 3:48 pm
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