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

[iamwiz82]

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

You hav enever been outside the country, eh? Taxes are low here.

 

[Bryophyte]

My spouse's employer takes out something like 43.65% for taxes on bonuses and stuff like that. Fvcks us up when we try to forecast the taxes.

 

[cerebusPu]

Originally posted by: 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.

wait till you hear about canada and a bunch of other european countries. you will be happy about our tax rate.

the king of england (forgot his name) taxed everyone at 10% to pay for the 3rd crusade. His son, king richard, was actually the one who did the crusade. When King Richard was held hostage, all of england was taxed 25% to pay for his ransom. (now thats a king's ransom!)

 

[Passions]

Originally posted by: 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.

WAAAAAAAAAAAAAAAAAAAAAAAAAAT??? yeah right, say that to my bonus stub. 40% cut.

 

[Jumpem]

Originally posted by: cerebusPu
wait till you hear about canada and a bunch of other european countries. you will be happy about our tax rate.

the king of england (forgot his name) taxed everyone at 10% to pay for the 3rd crusade. His son, king richard, was actually the one who did the crusade. When King Richard was held hostage, all of england was taxed 25% to pay for his ransom. (now thats a king's ransom!)

And that high tax back then is average for America today, and quite low for Europe.

 

[iamwiz82]

Originally posted by: Passions

Originally posted by: 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.

WAAAAAAAAAAAAAAAAAAAAAAAAAAT??? yeah right, say that to my bonus stub. 40% cut.

I don't think he was counting state or city tax.

 

[Bryophyte]

Originally posted by: 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.

Maybe in your state, but here, they also take out state taxes. Like I said, it comes out to around 43.65%.

 

[Rightwinger]

http://img147.echo.cx/img147/2788/dcp0598atot0hc.jpg

My bonus was not taxed at 25%. It was taxed at standard income! Woohoo!

Granted, $250 is not a lot but the very week the checks were cut I almost burned down the office. I think that took me down a few pegs.

 

[CPA]

Originally posted by: Passions

Originally posted by: 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.

WAAAAAAAAAAAAAAAAAAAAAAAAAAT??? yeah right, say that to my bonus stub. 40% cut.

You did NOT have 40% withheld for FIT! Combined maybe, but it's the FIT that matters because that's the only tax that is variable (unless your state uses variable rates for bonuses).

 

[CPA]

Originally posted by: Rightwinger
http://img147.echo.cx/img147/2788/dcp0598atot0hc.jpg

My bonus was not taxed at 25%. It was taxed at standard income! Woohoo!

Granted, $250 is not a lot but the very week the checks were cut I almost burned down the office. I think that took me down a few pegs.

Cool, but your company is not in compliance. Won't impact you, though.

 

[CPA]

Originally posted by: Bryophyte

Originally posted by: 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.

Maybe in your state, but here, they also take out state taxes. Like I said, it comes out to around 43.65%.

The post said "highest rate". This refers to FIT only, as FICA does not change. I am commenting on FIT ONLY, as the OP's intent, I believe, was to distinguish the different in the FIT rate between bonuses and regular wages.

 

[EagleKeeper]

By the time you add in NY state tax, local tax you may actually have to pay for the bonus:evil: