If I write a bonus check and end it 12/31/ 2023 and write it on 1/3/2024 will the taxes took out be on 2023

I understand the importance of accurately handling payroll and tax withholding to reflect the payment date, as it affects the tax obligations of both employers and employees, Tammy.

The tax treatment of a bonus check is generally based on the date it is paid, not the date it is dated or when the work was performed.

If you write a bonus check and date it 12/31/2023 but actually pay it on 1/3/2024, the taxes withheld would typically be based on the 2024 tax rates and regulations, not 2023.

From a tax perspective, the year in which the income is received is typically the year in which it is taxable. Therefore, if the bonus is paid in 2024, the taxes withheld would be based on the 2024 tax year.

You can seek advice from a tax professional or accountant if you have questions regarding tax withholding for bonus payments. They can properly guide you in any circumstances.

If you don't currently have a tax professional or accountant, you can visit our Proadvisor website to find one. Our advisors can offer you technical and accounting support. Furthermore, they have access to training materials, software tools, and dedicated support resources to ensure they can help whenever needed. All you need to do is enter your city, state, or ZIP code in the provided box.

I’m adding this reference to help you learn more about managing employee bonuses using QuickBooks Payroll: Pay an employee bonus.
 

After completing the task, you can generate reports to ensure all your transactions are correctly documented.

I’m just a few clicks away if you need more help with payroll. Just let me know by leaving comments below. I’ll get back to you as soon as I can, Tammy.