When do you expect to receive your Bonus? Forum

(On Campus Interviews, Summer Associate positions, Firm Reviews, Tips, ...)
Forum rules
Anonymous Posting

Anonymous posting is only appropriate when you are revealing sensitive employment related information about a firm, job, etc. You may anonymously respond on topic to these threads. Unacceptable uses include: harassing another user, joking around, testing the feature, or other things that are more appropriate in the lounge.

Failure to follow these rules will get you outed, warned, or banned.

When do you expect to receive your Bonus?

Poll ended at Mon Jan 01, 2018 2:09 am

Dec 2017
19
46%
Jan 2018
11
27%
Feb 2018 or later
9
22%
No Bonus
2
5%
 
Total votes: 41

Anonymous User
Posts: 428122
Joined: Tue Aug 11, 2009 9:32 am

When do you expect to receive your Bonus?

Post by Anonymous User » Fri Nov 17, 2017 2:09 am

(Can you opt for 2018, for tax reasons?)

User avatar
smokeylarue

Silver
Posts: 611
Joined: Sat Oct 30, 2010 3:55 pm

Re: When do you expect to receive your Bonus?

Post by smokeylarue » Fri Nov 17, 2017 4:17 am

I doubt you can delay your bonus but you can always ask? My firm pays it out in February.

jimmythecatdied6

Bronze
Posts: 206
Joined: Thu Jan 12, 2012 11:42 am

Re: When do you expect to receive your Bonus?

Post by jimmythecatdied6 » Fri Nov 17, 2017 10:20 am

I would be very surprised if the firm decided that your tax reasons are more important than its tax reasons

Anonymous User
Posts: 428122
Joined: Tue Aug 11, 2009 9:32 am

Re: When do you expect to receive your Bonus?

Post by Anonymous User » Fri Nov 17, 2017 1:24 pm

jimmythecatdied6 wrote:I would be very surprised if the firm decided that your tax reasons are more important than its tax reasons
Probably no big deal just to ask.

User avatar
SmokeytheBear

Silver
Posts: 926
Joined: Wed Jun 15, 2016 1:40 pm

Re: When do you expect to receive your Bonus?

Post by SmokeytheBear » Fri Nov 17, 2017 1:30 pm

Anonymous User wrote:
jimmythecatdied6 wrote:I would be very surprised if the firm decided that your tax reasons are more important than its tax reasons
Probably no big deal just to ask.
I disagree. Don’t ask.

Want to continue reading?

Register now to search topics and post comments!

Absolutely FREE!


charliekelly33

New
Posts: 58
Joined: Mon Jul 28, 2014 8:35 am

Re: When do you expect to receive your Bonus?

Post by charliekelly33 » Fri Nov 17, 2017 3:21 pm

Anonymous User wrote:(Can you opt for 2018, for tax reasons?)
also, aren't taxes usually over-withheld from bonuses? If anything you'd want it in 2017 so it can factor into your upcoming tax refund.

gaddockteeg

Bronze
Posts: 439
Joined: Fri Feb 07, 2014 5:33 pm

Re: When do you expect to receive your Bonus?

Post by gaddockteeg » Fri Nov 17, 2017 3:40 pm

charliekelly33 wrote:
Anonymous User wrote:(Can you opt for 2018, for tax reasons?)
also, aren't taxes usually over-withheld from bonuses? If anything you'd want it in 2017 so it can factor into your upcoming tax refund.
there could be plenty of reasons you'd want it in 2018. E.g., if you anticipate changing jobs then.

OP, you generally cannot though.

Anonymous User
Posts: 428122
Joined: Tue Aug 11, 2009 9:32 am

Re: When do you expect to receive your Bonus?

Post by Anonymous User » Fri Nov 17, 2017 5:08 pm

charliekelly33 wrote:
Anonymous User wrote:(Can you opt for 2018, for tax reasons?)
also, aren't taxes usually over-withheld from bonuses? If anything you'd want it in 2017 so it can factor into your upcoming tax refund.
Good point. Moving the bonus over to 2018 is great if you have a job where a 1099 is involved but not any benefit I can see in a law firm setting.

User avatar
JenDarby

Diamond
Posts: 17362
Joined: Wed Oct 20, 2010 3:02 am

Re: When do you expect to receive your Bonus?

Post by JenDarby » Fri Nov 17, 2017 5:40 pm

in-house but our bonuses are paid out in December, which I appreciate. My prior firm paid out bonuses in March.
Last edited by JenDarby on Mon Jan 29, 2018 10:45 pm, edited 1 time in total.

Want to continue reading?

Register for access!

Did I mention it was FREE ?


User avatar
SmokeytheBear

Silver
Posts: 926
Joined: Wed Jun 15, 2016 1:40 pm

Re: When do you expect to receive your Bonus?

Post by SmokeytheBear » Fri Nov 17, 2017 5:59 pm

JenDarby wrote:in-house but our bonuses are paid out in December, which I appreciate. My prior firm paid out bonuses in March.
My firm pays in December. In years past they would say something like before or after the 1st of the year, so they could do it based on cash flow and tax position, but the last couple years it has been the last paycheck of the year

CHA CHING cannot wait.

User avatar
kellyfrost

Platinum
Posts: 6362
Joined: Mon Nov 09, 2015 3:58 pm

Re: When do you expect to receive your Bonus?

Post by kellyfrost » Fri Nov 17, 2017 6:27 pm

Between March 15 and March 31, 2018. It always occurs in that same time frame every year for me.
Last edited by kellyfrost on Sat Jan 27, 2018 12:01 pm, edited 1 time in total.

User avatar
Pokemon

Gold
Posts: 3528
Joined: Thu Jan 12, 2012 11:58 pm

Re: When do you expect to receive your Bonus?

Post by Pokemon » Fri Nov 17, 2017 11:08 pm

Do not know if sarcasm and the joke is on me, but am not sure how people think it is ok to ask firm to delay bonus for you because of tax reasons.

KM2016

Bronze
Posts: 282
Joined: Wed Jul 09, 2014 1:20 am

Re: When do you expect to receive your Bonus?

Post by KM2016 » Fri Nov 17, 2017 11:39 pm

Pokemon wrote:Do not know if sarcasm and the joke is on me, but am not sure how people think it is ok to ask firm to delay bonus for you because of tax reasons.
If there was ever any doubt, DON'T do this. Can't believe this was even a legitimate question tbh.

Register now!

Resources to assist law school applicants, students & graduates.

It's still FREE!


User avatar
sublime

Diamond
Posts: 17385
Joined: Sun Mar 10, 2013 12:21 pm

Re: When do you expect to receive your Bonus?

Post by sublime » Fri Nov 17, 2017 11:42 pm

Don't ask.

And I'm in December. Please someone raise market bonuses (although I'm not optimistic)

EliotAlderson

New
Posts: 33
Joined: Sat Nov 18, 2017 7:18 am

Re: When do you expect to receive your Bonus?

Post by EliotAlderson » Sat Nov 18, 2017 7:23 am

Also, can’t delay income for tax purposes. IRS has a slight issue with that

Anonymous User
Posts: 428122
Joined: Tue Aug 11, 2009 9:32 am

Re: When do you expect to receive your Bonus?

Post by Anonymous User » Mon Nov 27, 2017 3:15 pm

I originally thought that our bonus would be paid in early Jan. Unfortunately, I learned today that bonuses will be issued in late February. Downer.

Anonymous User
Posts: 428122
Joined: Tue Aug 11, 2009 9:32 am

Re: When do you expect to receive your Bonus?

Post by Anonymous User » Mon Nov 27, 2017 3:25 pm

Mine pays in December, but wouldn’t even think about asking to delay if it didn’t.

Unless you’re thinking that MASSIVE TAX CUTS will be passed and take effect BIGLY in 2018, not worth it to ask.

Get unlimited access to all forums and topics

Register now!

I'm pretty sure I told you it's FREE...


dixiecupdrinking

Gold
Posts: 3436
Joined: Sun Oct 26, 2008 2:39 pm

Re: When do you expect to receive your Bonus?

Post by dixiecupdrinking » Mon Nov 27, 2017 8:25 pm

How about "I'm planning to quit as soon as the check clears, so it'd really help me out if it was next year."

User avatar
rpupkin

Platinum
Posts: 5653
Joined: Mon Dec 09, 2013 10:32 pm

Re: When do you expect to receive your Bonus?

Post by rpupkin » Mon Nov 27, 2017 8:47 pm

EliotAlderson wrote:Also, can’t delay income for tax purposes. IRS has a slight issue with that
I'm no tax expert, but I believe it's not uncommon for businesses to delay/defer bonus payments for tax purposes.

To be clear, I'm not suggesting that OP (or anyone else) ask their law firm to defer the payment of their bonus. But EliotAlderson's post suggests that such a deferral would be tax evasion; I'm not sure that's right.

Anonymous User
Posts: 428122
Joined: Tue Aug 11, 2009 9:32 am

Re: When do you expect to receive your Bonus?

Post by Anonymous User » Mon Nov 27, 2017 9:16 pm

Given the time of the year, I think you are better off taking the bonus in ’17 since you would not be immediately hit with a Social Security deduction.

I know of bosses/companies who have offered to delay bonus or commission income until the new year. Cannot see that as being illegal. As an obvious side note, the law firm bonus you are about to receive is for work done in ’17 (but, for many, paid in ’18).

EliotAlderson

New
Posts: 33
Joined: Sat Nov 18, 2017 7:18 am

Re: When do you expect to receive your Bonus?

Post by EliotAlderson » Tue Nov 28, 2017 5:00 am

rpupkin wrote:
EliotAlderson wrote:Also, can’t delay income for tax purposes. IRS has a slight issue with that
I'm no tax expert, but I believe it's not uncommon for businesses to delay/defer bonus payments for tax purposes.

To be clear, I'm not suggesting that OP (or anyone else) ask their law firm to defer the payment of their bonus. But EliotAlderson's post suggests that such a deferral would be tax evasion; I'm not sure that's right.
Never indicated that it was tax evasion.

Look up constructive receipt. There is a difference between the firm deciding when my bonus is being paid and me telling the firm thanks for the check, but I would like to receive it in 2018

Anonymous User
Posts: 428122
Joined: Tue Aug 11, 2009 9:32 am

Re: When do you expect to receive your Bonus?

Post by Anonymous User » Wed Nov 29, 2017 2:22 pm

EliotAlderson wrote:Look up constructive receipt. There is a difference between the firm deciding when my bonus is being paid and me telling the firm thanks for the check, but I would like to receive it in 2018
I do not understand the logic. It’s not OK to ask for a bonus to be delayed (for work done in 2017) but it is OK for the firm to opt on paying the so-called bonus in 2018?

Communicate now with those who not only know what a legal education is, but can offer you worthy advice and commentary as you complete the three most educational, yet challenging years of your law related post graduate life.

Register now, it's still FREE!


Post Reply Post Anonymous Reply  

Return to “Legal Employment”