{ "media_type": "text", "post_content": "Are bonuses taxed at the Bonus rate or normal taxable income rate? My signing bonus seemed to be just normal taxable income so curious if this is across the board?", "post_id": "57680da1b859a11300cee61b", "reply_count": 17, "vote_count": 1, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting", "feed_type": "crowd" }
null

Are bonuses taxed at the Bonus rate or normal taxable income rate? My signing bonus seemed to be just normal taxable income so curious if this is across the board?

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Do you guys not understand how income tax works?

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Withholding on bonus is higher... But your income tax rate is your income tax rate. Just means you get more back later

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Flat federal rate of 25% on supplemental income (bonuses) then any state and local taxes are taken out in addition to that.

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Unfortunately true. I earned a $1500 bonus after my first job, and when $750 landed in my account I was shocked as well.

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45% in NY?

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That can't be right about 45%

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Bonus rate?

http://blog.turbotax.intuit.com/income-and-investments/bonus-time-how-bonuses-are-taxed-and-treated-by-the-irs-8003/

Damn. Glad I don't live in NY. Talk about greedy.

Wtf. NY is a screwed up place. 5% is reasonable, but 45% wow.

Where do you live C1?

Ha, get more back later, the days of getting a refund sailed away many moons ago,

VÁ. We still have insane tax rates but not as bad as NY

45% is right for NYC

Man our government is greedy. Damn.

If it's paid as part of a biweekly then the tax is withheld as if the gross amount were your "normal" biweekly pay. Higher tax rates apply. Between state and Federal it can reach almost 50%

Thank you D2. I was starting to lose faith in humanity. Is this what it feels like to work at a big 4? I kid I kid...

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