So I get a $3k starting bonus... is it going to get taxed the same as wages on my paycheck?

[Jumpem]

So if I get $3k added to my first check, is it really going to be more like $2k?

 

[DivideBYZero]

I expect so.

 

[Demon-Xanth]

Yup.

 

[NL5]

It will most likely be taxed at a HIGHER rate.....

 

[CPA]

nope, you will get 25% for FIT and 7.65% off for FICA. All bonuses are considered special compensation and are taxed at the 25% level.

edit: Nope was in response to the question asked in the thread title. You should receive a net check of 2,020.50. If not, then Payroll doesn't know what they are doing.

 

[Jumpem]

That's what I figured.

 

[Queasy]

It's going to be taxed at the highest tax rate.

 

[Scarpozzi]

Originally posted by: NL5
It will most likely be taxed at a HIGHER rate.....

You can only hope so....it's better to get taxed higher than lower... You'll just have more of a return. That's been my experience with bonuses....they tax the crap out of them.

 

[Passions]

Say Hello to $1,800.

 

[Jumpem]

Originally posted by: Passions
Say Hello to $1,800.

I was going to pay the rest of my tuition I still owe for this quarter with it, and have a little left over. I guess there won't be left over.

 

[markgm]

Yep, they tax the crap outta them. If your 3k bonus check is the same as what your normal paycheck is going to be, then it might be about the same.

 

[Queasy]

Originally posted by: Scarpozzi

Originally posted by: NL5
It will most likely be taxed at a HIGHER rate.....

You can only hope so....it's better to get taxed higher than lower... You'll just have more of a return. That's been my experience with bonuses....they tax the crap out of them.

Yep, it evens out at tax time. They tax bonuses at the highest tax rate to ensure that you don't get bumped up a tax bracket and end up owing a ton when you file your tax returns.

 

[Doctorweir]

Well...taxes suck big time, especially when it's bonus time

 

[SouthPaW1227]

another reason I hate America; sucks there's not a better alternative.....

 

[Queasy]

Originally posted by: SouthPaW1227
another reason I hate America; sucks there's not a better alternative.....

Fair Tax

 

[gshock888]

all my bonuses are halved. sucks

 

[spacelord]

Welfare recipients are glad for your bonus.

 

[SouthPaW1227]

Originally posted by: Queasy

Originally posted by: SouthPaW1227
another reason I hate America; sucks there's not a better alternative.....

Fair Tax

For heavens sake YES!!!!!!!!!!!!!! I've never understood "sales tax". How are you gonna tax me with money I have leftover from ALREADY BEING TAXED?! I HATE AMERICA! (not really, but you know...)

I have always thought "hey...if I make $200k a year, clearly I'll buy lots of crap, so I'll get taxed MORE!, but if I make $10k a year, I'll buy less, but I won't have to resort to too much welfare due to taxes for things I haven't even purchased" Works in my head.

 

[Jumpem]

Originally posted by: spacelord
Welfare recipients are glad for your bonus.

Please don't get me started on how overtaxed we are, and redistribution of wealth.

 

[gshock888]

whenver you get a job offer, whatever they offer you, half it, and see if you think you can get by with that amount. if yes, take the job offer. if not. tell them to suck it.

 

[digitalsm]

All bonuses are taxed at the highest at rate.

 

[gshock888]

remember everytime you get a raise or a promotion or a bonus, somewhere someone on welfare cheers for the fact that there's more money for dope.

 

[DeMeo]

Even though an employer withholds at a higher rate, it doesn't mean you owe that much. When you file your taxes, the bonus will be included in your total gross. For msot people it means you'll get a bigger refund.

 

[CPA]

Originally posted by: SouthPaW1227
another reason I hate America; sucks there's not a better alternative.....

there is, it's called a national sales tax.

But either way, America is still the greatest country in the world.

 

[CPA]

Originally posted by: digitalsm
All bonuses are taxed at the highest at rate.

No they aren't.

People please stop posting stuff that is not correct.


Bonuses are taxed at 25% FIT. Period.