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Childcare other than Daycare and Preschool
Reply to "Do you give bonus in cash/check or though your payroll software?"
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[quote=Anonymous]https://www.care.com/hp/payroll-rules-for-holiday-gifts-and-bonuses "I received a bonus, but there are taxes taken out of it. Why is that? Any amount of cash or payment given to you by your employer is subject to taxes because it’s considered part of your income. Generally, employers put an extra line item on your paycheck showing a bonus, but if you look closely at your total earnings for that pay period, it will be higher than usual to account for the bonus. What if I received a gift card instead of extra money? The IRS doesn’t make a distinction between cash and gift cards, so a gift card is treated like another form of income. You’ll have taxes taken out of the value of it, just like if it was part of your normal pay for the week."[/quote]
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