Jefferies Group is allowing employees to decide when they’ll receive their bonus payment for work performed this year as U.S. companies and workers try to determine how Republicans’ tax changes will affect their wallets.
Bloomberg News reports that CEO Richard Handler asked staff whether they wanted to get their bonus check in December or January, according to people with knowledge of the matter. The New York-based investment bank normally awards bonuses in January, said the people, who asked not to be identified discussing pay issues.
The Republican tax bill, which was sent to President Donald Trump on Wednesday, will cap deductions for mortgage interest and state and local taxes that many wealthy Wall Street employees counted on to reduce their taxes. Some bankers and traders may find it more advantageous to have a bigger income in 2017 with existing deductions in place, while others may benefit from next year’s lower tax rates.
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