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re: How are allowances from an employer taxed?
Posted on 7/19/19 at 7:21 am to Lazy But Talented
Posted on 7/19/19 at 7:21 am to Lazy But Talented
quote:
Is that taxed like bonuses, salary, or not at all? Trying to decide how to weigh this.
Well first off, bonuses are not taxed any differently than regular wages. They have different rules for how your employer withholds but at the end of the day it’s no different on your tax return.
Second, it depends. If they make you keep track of your expenses and return any excess then it’s tax free.
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