Posted on 12/31/2021 7:51:57 AM PST by DUMBGRUNT
On his final day as principal owner of the Iowa Cubs, Michael Gartner surprised his staff with an unforgettable goodbye gift.
He shared profits from the sale of the Des Moines-based minor-league baseball team with all 23 of the club’s full-time employees.
“Here are your new business cards,” Gartner joked.
“Everyone knew something was up because of the way he said it,”
What was actually inside those envelopes were checks worth a total of approximately $600,000, general manager and minority owner Sam Bernabe told Yahoo Sports. Gartner, Bernabe and the other three members of the team’s ownership group determined how much each full-time staffer received based on how long he or she had worked for the Chicago Cubs Triple-A affiliate.
Everyone from marketing managers, to stadium operations workers, to the janitorial staff struggled to find words to thank Gartner and his partners.
(Excerpt) Read more at sports.yahoo.com ...
Looking at the IRS guidance I think it's strictly the employer's choice, provided the supplemental income is less than $1M. You have to withhold 37% of supplemental income over $1M.
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