I got taxed 41% on my latest bonus.

I see your downvote And I'll raise you one.
EAD.

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I see your downvote And I'll raise you one.

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If only I downvoted you. I honestly forget that feature is there most of the time.

Well, I guess turnabout is fair play...

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Let that sink in.

41%.
fricking license to steal.

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You will get a lot of that back - its effective rate at the end of the day wont be close to the 41% they took out (even if you are an OT baller).

Don't get me wrong, it sucks to have that taken out up front like that but at the end of the day it is taxed like regular income and there is no 41% bracket (and if you are including payroll taxes) you will get back unless in 33% bracket.

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My bad.

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No worries, my man. But I will take credit for each of the last two downvotes on your post. To make up for it, I will upvote your last one.

And FWIW, I agree with your OP. Sucks man. But what is life if we cannot laugh at the stupid shite?

Silly question but I honestly don't know .. I am an consultant for a nursing home and get paid hourly; work part time. Why are bonuses/overtime taxed at a higher rate? I hear the nurses talking about this and I guess as it never has affected me I just don't ever think about it to "get it".

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Why are bonuses/overtime taxed at a higher rate?

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its the withholdings built into payroll software. my bonuses were a bit larger than normal this year, and while it was annoying seeing the smaller checks come in, the refund on my tax returns trued it all back up

Moar lol

It's subject to social security and medicare as well as income tax.

No it's not. Income is income and at the end of the year, it's all taxes at the same rate. It's the payroll software that the company uses that is the problem.