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Jan 25, 2023
11:43
:04
am
BigTex
All-American
Have your company pay it out as part of payroll
Taxes are taken care of automatically that way.
The company may balk at that because that would mean they have to pay employer portion of taxes, but it's the most legal & ethical way to do it.
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BigTex
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BYUTenderHeart
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BigTex
Joined
Oct 16, 2001
Last login
May 23, 2024
Total posts
36,909 (6,117 FO)
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Messages
Author
Time
Has anyone gotten a large sales commission before? Any tax advice?
4slyce
1/25/23 11:40am
There is no special tax on a large commission. If you are asking about the withholding, work with them to figure
Baron
1/25/23 11:42am
Have your company pay it out as part of payroll
BigTex
1/25/23 11:43am
It doesn’t matter in the long run. But you can change withholding
Nat Gas Man
1/25/23 11:44am
All the time...
ordinary tri guy
1/25/23 11:46am
You will quickly discover what a progressive tax system means
Nat Gas Man
1/25/23 11:51am
What do you mean by large?
IdahoCoug
1/25/23 11:53am
Not the OP but just reminded me of it. My company sells B2B payment products, and has 4 different sales teams. One does
Clark Addison
1/25/23 12:04pm
Wish I would have gotten that commission. Sounds like a cool company.
Blue for Life
1/25/23 12:36pm
Yeah, I'd consider that in the large category.
IdahoCoug
1/25/23 1:39pm
When the large commission check is paid, I have my company temporarily change...
Bexell_Hall
1/25/23 12:15pm
Most companies take out 25% of commissions as that is what the IRS recommends.
Blue for Life
1/25/23 12:34pm
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