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  • #1

    Taxes on bonuses

    Do yearly bonus checks fall under a different tax% than your normal income? Do they take SS, medicare, etc or just income tax?
    Last edited by mustangguy289; 01-07-2011, 02:00 PM.
    www.dfwdirtriders.com
    Tags: fuck the government, you will pay
  • #2
    They withhold more, it all washes out at year end. My bonus check was 44% of the damn gross amount, lmao.
    Originally posted by davbrucas
    I want to like Slow99 since people I know say he's a good guy, but just about everything he posts is condescending and passive aggressive.

    Most people I talk to have nothing but good things to say about you, but you sure come across as a condescending prick. Do you have an inferiority complex you've attempted to overcome through overachievement? Or were you fondled as a child?

    You and slow99 should date. You both have passive aggressiveness down pat.

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    • #3
      Originally posted by slow99 View Post
      They withhold more, it all washes out at year end. My bonus check was 44% of the damn gross amount, lmao.
      That is effing depressing lol. I was hoping to pay one school loan off and buy a nice fourwheeler with it.. but if it takes half the bonus I will only be able to do one of those. damn.

      Anyway to guestimate based on the amount of bonus?
      www.dfwdirtriders.com

      Comment

      • #4
        When I was in Texas my checks were right around 66% of gross. Paycheckcity.com has a good paycheck/bonus calculator.
        Originally posted by davbrucas
        I want to like Slow99 since people I know say he's a good guy, but just about everything he posts is condescending and passive aggressive.

        Most people I talk to have nothing but good things to say about you, but you sure come across as a condescending prick. Do you have an inferiority complex you've attempted to overcome through overachievement? Or were you fondled as a child?

        You and slow99 should date. You both have passive aggressiveness down pat.

        Comment

        • #5
          Page not found
          http://www.paycheckcity.com/coAmCheck/agbonuscalculator.asp
          PaycheckCity offers free paycheck calculators, tax information, and payroll information.

          Comment

          • #6
            Yeah, they're not taxed at a higher rate but they do the witholdings at the maximum. At the end of the year a bonus is taxed just like any other income you made. When I was in sales back in the late 90's about half of my income was base salary and the other half were a combination of commission and quarterly bonuses. I had my salary witholding at like Married - 5 so that almost nothing came out of those for Federal, then it would be more than made up for on the commission and bonus witholdings.

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            • #7
              man that is depressing after punching in the numbers. oh well... better than nothing. It took about 33% of the bonus.
              www.dfwdirtriders.com

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              • #8
                Haha yeah it sucks man. Some people here ask to have them split over a few checks...not sure it makes a huge difference. My first paycheck going full-time had nearly 3K in takes taken out. When I work approved overtime the tax is crazy as well.

                Sounds like you got a good bonus too. Congrats man!

                Comment

                • #9
                  Originally posted by Ruffdaddy View Post
                  Haha yeah it sucks man. Some people here ask to have them split over a few checks...not sure it makes a huge difference. My first paycheck going full-time had nearly 3K in takes taken out. When I work approved overtime the tax is crazy as well.

                  Sounds like you got a good bonus too. Congrats man!
                  Yea it is very good... but mine is prorated this year so it is only 7/12's of what it should be (started June 1st).
                  www.dfwdirtriders.com

                  Comment

                  • #10
                    Just go exempt for that paycheck and then change it afterwards. That's what I do.

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