Are bonus taxed at 40%?

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They are withheld at the highest level.

Unless you’re already in the highest bracket, you will get refunded the difference.

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This is firm dependent. Our bonuses are taxed at 25% (federal) regardless of tax bracket.

Federally, it's usually 22%.

They are withheld at 40% but taxed at your regular tax rate when you do you file your taxes

Withholding yes but then once you file your taxes you’ll be taxed/refunded according to your actual income tax bracket etc

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