Most companies take out 25% of commissions as that is what the IRS recommends.

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Jan 25, 2023
12:34:41pm

Blue for Life All-American

Most companies take out 25% of commissions as that is what the IRS recommends.

Lots of people change their tax status so you don't get so much taken out. But you might end up owing at the end of the year.

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Blue for Life

Bio page: Blue for Life
Joined: Nov 27, 2006
Last login: May 24, 2024
Total posts: 16,413 (653 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

1/25/23 12:04pm

Wish I would have gotten that commission. Sounds like a cool company.

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.

1/25/23 12:34pm

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