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Started By
Message
re: bonuses and taxes
Posted on 3/13/15 at 4:36 pm to swanny297
Posted on 3/13/15 at 4:36 pm to swanny297
quote:
My federal withholding on my bonus has always been much higher than my federal withholding for my monthly gross salary, how are they not taxed differently?
It's the witholding software - it basically thinks you now will have that as your month salary. You get it back on your returns.
1
Posted on 3/13/15 at 5:41 pm to BACONisMEATcandy
Yes, this is why when big bonuses are forthcoming I ALWAYS change my "Federal" tax rate to EXEMPT. I itemize and for the last month of the year claim zero it all works out.
I let the State have their pennies no reason to mess with that one.
I let the State have their pennies no reason to mess with that one.
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