CA Tax question about bonuses: in 2019 I got a 20k signing bonus, but after taxes got about 12k. Then in 2020, I got a 9k bonus and only got about 4K after taxes. People always say we’ll get the money back in our refund, but seems like this hasn’t been happening for me. Wondering if I can try to get the money back from my 2019 and 2020 bonuses. Is there a specific way to file the bonuses to help get more of the taxed money back!

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Sadly the amounts seem right with all the taxes that are taken out. Bonuses are taxed a flat 22% for federal, then CA taxes you 10.23%, you pay another 6.2% toward Social Security and 1.45% for Medicare and ~.76% for FICA.

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The bonus is withheld at 22%. It is taxed at whatever the recipients marginal rate is.

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You only get a refund if you overpay, and that’s all taken into account on your tax return.

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Nope. Just enter it into TurboTax

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Your bonus is included in your total W2 number, so you’ve probably already reported it

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How much do you make? The people you are talking to are probably making less

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In 2019 my income was around 96k. In 2020, my income was 120k

At ACN, the signing bonus is it own thing, bc it usually arrives before you start. The year end bonus, however, also gets drained by 401k (but is also matched) and ESPP contributions. That’s part of why you got so little. It’ll all show up in your comp statement.

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You did get it back, essentially. If you withheld $5k from your $9k bonus that $5k was included in taxes already paid - so it nets out against your overall AGI

SM 1 has it. Bonuses are withheld at a set rate for all, but you’re taxed only on your marginal rate for the year.

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