I am looking at a printout of a December Jumps LES Online Inquiry System, does all bonuses show up on the LES for every month, like if I were to get the bonus in July would it show up on the December LES? Would I need to request a different type of printout to find out what bonuses I have received? Taxable or non-taxable?? Where would the reenlistment bonuses show up on the LES since it is a new contract?
Your bonus should show up on your LES the month, or next month that you received it. It will show up as an entitlement and then as a deduction. It's not part of your monthly pay and was deposited separately. So, they show it as an entitlement, tax it (if applicable), and then show it as a deduction paid to you separate from your monthly pay. When you get your W2 that year, if it was taxed, you will get a pretty decent portion of it back at taxes but keep in mind that you may jump tax brackets because of the increase in income. So, you may not qualify for some of the credits/deductions that you did in the lower bracket. If it wasn't taxed then it will be annotated on the W2 as non-taxable income.
Posts: 275 | Location: Djibouti | Registered: 17 May 2010