Cryptocurrency Q&A
Is a safety bonus taxable?
Is a safety bonus taxable?
Michele
Fri Oct 25 2024
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5 answers
1088
I received a safety bonus from my company this year as a reward for maintaining a SAFE work environment. I'm wondering if this bonus is considered taxable income by the government.
5 answers
DongdaemunTrendsetterStyleIconTrend
Sun Oct 27 2024
Safety awards provided to employees are exempt from federal taxable wages under certain conditions.
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SakuraSpirit
Sun Oct 27 2024
In such cases, all employee safety awards become taxable.
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Elena
Sun Oct 27 2024
These awards must be given to management, administrative, professional, clerical, and part-time employees.
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Chiara
Sun Oct 27 2024
The eligibility criterion specifies that no more than 10% of eligible employees can receive the award during the tax year.
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QuasarGlider
Sun Oct 27 2024
If the percentage of eligible employees receiving the award exceeds 10%, the tax status changes.
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