x Want to participate? Join the group to interact
  • State Not Answered
  • Replies 4 replies
  • Subscribers 143 subscribers
  • Views 401 views
  • Users 0 members are here
Browse Forums
Sage 100 Contractor Announcements
119
topics
57
replies
Sage 100 Contractor General Discussion
1k
topics
4k
replies
Sage 300 CRE Announcements
168
topics
526
replies
Sage 300 CRE General Discussion
3k
topics
9k
replies
Sage Construction Management Announcements
4
topics
0
replies
Sage Construction Management General Discussion
16
topics
21
replies
Sage Estimating Announcements
39
topics
3
replies
Sage Estimating General Discussion
189
topics
448
replies
Mary Battista

Profit Sharing paid out monthly

Posted By

I have an hourly employee receiving weekly payroll that will also be receiving monthly profit sharing in a flat amount. What is the best way to set this up? Should I use the "bonus" category? Does it make sense to set that up as if he's a separate employee so that he would have two employee numbers, which would also generate two W-2s?  Thank you,

Parents
  • 0

    Hi Mary. It seems like an Add To Gross payroll calculation might be easiest. Is this profit sharing going to be subject to the normal Federal and State taxes? Or will it be taxed at the higher bonus rate? Also, I don't think you will need a duplicate record for this employee unless you are required to submit a separate W2.

Reply
  • 0

    Hi Mary. It seems like an Add To Gross payroll calculation might be easiest. Is this profit sharing going to be subject to the normal Federal and State taxes? Or will it be taxed at the higher bonus rate? Also, I don't think you will need a duplicate record for this employee unless you are required to submit a separate W2.

Children
No Data

*Community Hub is the new name for Sage City