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re: Signing Bonuses

Posted on 3/14/16 at 12:32 pm to
Posted by Tigerpaw123
Louisiana
Member since Mar 2007
17318 posts
Posted on 3/14/16 at 12:32 pm to
quote:

Be prepared to be disappointed that you will only see a little more than half of the bonus amount after the fed and state take their share.


You will actually see a lot more than this, bonuses do not get taxed at a higher rate, but the payroll software may with hold at a higher rate because it thinks you are making that much each pay period, in which case you will get it refunded when you file a return
Posted by TigerFred
Feeding hamsters
Member since Aug 2003
27225 posts
Posted on 3/14/16 at 12:37 pm to
What?

It is income and taxed at the same rate as regular income.
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