salary received as cash

[Zkhadi]

Hi If I received salary of 215,000  and pension allowance of of 55,000 as Cash ?

How would my tax calculation will be calculated?

[rjs]

Previous post of the same question:
Pension allowance and salary sacrifice

[Zkhadi]

Hi my previous question was pension contribution via salary sacrifice. This question is asking about tax calculation on income and pension allowance received as cash.  This is a difference between two questions.

[Hal_Al]

You do not receive a "salary" "as cash".  A salary is reported on an IRS form W-2, regardless of how paid.  If you do not receive a W-2 for $215,000, you have some other kind of income, not a salary. 

The IRS considers undocumented cash income (no W-2 or 1099-MISC), for work performed, to be self employment income. Enter at "Business Income & Expenses" and TurboTax (TT) will complete Schedule C or C-EZ for you and allow you to deduct any expenses associated with this income. You'll also have to pay self employment tax (social security & medicare tax) on any profits greater than $400.

A pension contribution, by an employer, must also be handled/documented according to IRS rules. Otherwise, it's not a pension contribution, it's more cash income that must be reported on your tax return.  You could then use the money to contribute to a SEP IRA and get a deduction. 

[Zkhadi]

My question relates to UK taxes ?

[DoninGA]

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@Zkhadi wrote:

My question relates to UK taxes ?

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This is a TurboTax user message forum for questions pertaining to US Federal and State tax returns or questions about the TurboTax US program.

If you have questions on how your income is going to be taxed in the UK then you will have to seek out a UK tax professional in your area.