the man work at a car dealer ship and he get a bonus of 19000 and they want to know what he is % of tax rate is on this
are we guessing? without seeing his overall tax picture, that's all anyone here could do.
What tax bracket does he land in?
Probably a spiff.
"They" meaning the dealership?
"They" meaning your client?
contains some discussion of spiffs.
You got me thinking @BobKamman
contains some discussion of spiffs.
You got me thinking @BobKamman
EDIT: Sorry for the duplicate post. Forum has been wonky for me today.
it was bonus for all the cars he sold and he made 19000 and he got it on a 1099-misc form and when i got it done. The people wanted to know what tax rate were they being taxed at, well i told them i would ask around and see if i could get some idea, I said that they needed to put 30% of the amount in to a saving account and or put it away so that they could have money set a side to pay the taxes on it
@bearlywalkin wrote:
it was bonus for all the cars he sold
Was the money from the dealership or was it from the manufacturer of the vehicles?
@bearlywalkin wrote:The people wanted to know what tax rate were they being taxed at, well i told them i would ask around and see if i could get some idea,
The program has reports that show the federal tax bracket: Tax History Report, Tax Summary Report But the federal tax bracket doesn't take into account any other taxes your client may be subject to, like self-employment tax.
If you're preparing returns professionally, you really should know how to determine the tax rate. You don't ask around and see if you can get some idea.
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