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Christmas eve?
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<blockquote data-quote="satellitedriver" data-source="post: 792261" data-attributes="member: 1664"><p><span style="color: darkgreen"><strong>They are 2010 earnings. </strong></span></p><p><span style="color: darkgreen"><strong>Vacations pay is earned in the prior year-(2009)-, due to hours worked</strong></span>, <strong><span style="color: darkgreen">and the compensation is distributed in 2010.</span></strong></p><p><strong><span style="color: darkgreen">The taxes will be based on the 2010 distribution of funds.</span></strong></p><p><strong><span style="color: darkgreen">Example;</span></strong></p><p><strong><span style="color: darkgreen">If I work until October 31, 2011, I have earned the next year's vacation weeks.</span></strong></p><p><strong><span style="color: darkgreen">I retire on Nov 1st.</span></strong></p><p><strong><span style="color: darkgreen">In 2012 I will receive a check for 5 weeks of pay that will be applied to my 2012 tax obligation.</span></strong></p><p><strong><span style="color: darkgreen">Many retiree's use this as a way to miss peak and get a check for the New Year.</span></strong></p><p><strong><span style="color: darkgreen"></span></strong></p></blockquote><p></p>
[QUOTE="satellitedriver, post: 792261, member: 1664"] [COLOR=darkgreen][B]They are 2010 earnings. Vacations pay is earned in the prior year-(2009)-, due to hours worked[/B][/COLOR], [B][COLOR=darkgreen]and the compensation is distributed in 2010. The taxes will be based on the 2010 distribution of funds. Example; If I work until October 31, 2011, I have earned the next year's vacation weeks. I retire on Nov 1st. In 2012 I will receive a check for 5 weeks of pay that will be applied to my 2012 tax obligation. Many retiree's use this as a way to miss peak and get a check for the New Year. [/COLOR][/B] [/QUOTE]
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