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mk76
Level 1
posted
‎May 09, 2022 04:42 PM
last updated ‎May 09, 2022 1:43 PM

Tax rate on bonus way too high

Hello. I just started paying myself a monthly salary and wanted to add a one-time bonus cheque, separate from the monthly payroll. The preview shows an employee tax that's a whopping 46.41%, which is much higher than the rate on my monthly pay. My only guess is that QBO thinks I'll be giving myself this bonus amount every month so it's knocked me up to a much higher CRA tax bracket. Other than that I really don't have a clue.

 

Any help appreciated. Thank you!

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2 Comments 2
JamesM4
QuickBooks Team
QuickBooks Team
‎May 09, 2022 05:55 PM

Tax rate on bonus way too high

Hello mk76, 

 

Thanks for reaching out to us here. I'll be happy to point you in the right direction so you can get back to doing what you love. QuickBooks is a versatile program that simplifies the way you manage your transactions. 

 

Based on what you've described, I see you benefiting more by contacting our support team outside of the Community. This ensures that your account info remains private and secure. A specialist will also be able to share your screen and help you further with this. Here are our contact details: 

  • Schedule a Callback or start a Chat: click (?)Help in the upper right in QuickBooks Online > type and enter "Contact support" into the QB Assistant > click Contact Us > explain your situation > click Let's Talk > choose Get a callback or Start a Chat.
  • Social Media: Facebook, Twitter, and Instagram.
  • Support hours are from Monday to Friday between 9 a.m. and 8 p.m. ET.

Feel free to keep me posted on how you make out. I'll be one message away in case you need anything else.

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mk76
Level 1
‎May 10, 2022 09:40 AM

Tax rate on bonus way too high

Thanks. I've tried support a couple times already and they didn't offer a solution. I will try my luck here in the forums for now.

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