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re: Just Got My Yearly Bonus
Posted on 11/23/21 at 9:17 pm to GRTiger
Posted on 11/23/21 at 9:17 pm to GRTiger
I didn't do the math, but I assumed a $15k+ bonus (which combined with his normal income would pro-rate out to the 35%+ bracket) plus SS and Medicare, which would put him somewhere in that neighborhood, at least in theory.
But with that said, while I know more than the average bear about taxes and withholding, I know shite about frick in the grand scheme of things, so you're vastly more likely to be right
But with that said, while I know more than the average bear about taxes and withholding, I know shite about frick in the grand scheme of things, so you're vastly more likely to be right
1
Posted on 11/23/21 at 9:31 pm to Joshjrn
It's possible they use that method, but it's not as common because it's a pain in the arse for the employer and almost always unnecessarily withholds more than is necessary, so it's kind of a lose-lose. I was assuming that wasn't the case but I could be wrong. In that case, it could hit 42% depending on a lot more variables.
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