For those that have recently changed jobs and received sign on bonuses, what is the best tax strategy to get the max take home pay related to the sign on bonuses? Also please provide if you could, what your effective tax rate was on your sign on bonus. Thanks!

funnylike
Posting as :
works at
You are currently posting as works at

Not this question again. Bonuses are taxed the same as salary but typically withheld at a higher rate. In that case you will get a refund (or owe less money) when you file your 1040. You could reduce the withholding on your salary to compensate for the extra withholding on your bonus.

likefunny

Move to a state with no income tax?

like

Get a $30kish sign on bonus and contribute all $20,500 to 401(k) and then $7,100 to HSA if married? Like someone else said live in FL for no state. Just make sure you leave 6.2% for SS and 1.45% for Medicare. Wow look at all those tax savings!!!!! Hopefully you get this bonus in a city with low local income taxes too!!!🥴🥴🤪🤪

like

Thanks. Very helpful

funny

Apply bonus to 401k tax free!! At least the first $20k is..

like

Last I knew bonuses were taxed at a higher rate, so just assume they’re going to withhold 32% for all the mandatory withholdings. If you get a little bit more in take home, then it’s a win!

Sorry to see you’re leaving CLA but life is too short to be unhappy! Hope the new place is a better fit for you!

Bonuses are not taxed at any rates other than your ordinary income. Withholding, however, is a standard 22%, to cover your transition to a higher bracket.

Related Posts

like

Do we have option to include stock in salary structure in FIS to save income tax?

like

I am in conversations for a SVP role at a media agency. Does anyone have any guidance on salary expectations I should be asking for

Hi Fishes,

What do you think should be the fixed compensation of a knowledge manager with 5.5 yoe in Bangalore? Note: I have an M.A degree.

I mean I know it's difficult to gauge but what do you think would be good with that yoe and location?

I am really confused as in how they do the benchmarking for km professionals? Any idea?

like

Moving from Key Account Management to Commercial leader of a global consulting/saas firm. Seeking advice on what compensation I should push for. Current on 120k. Will be leading the go to market strategy for saas proposition. Reigniting sales process for Nb and existing business. Any advice for salary and compensation?

like

Quantiphi analytics pvt ltd. Hi Guys,

What is the salary range for senior data engineer at Quantiphi?

I have asked for 30% hike on my current ctc.
Please help me with the salary bracket for above mentioned role and also share your feedback about work life balance.

Thanks in advance

My current CTC is - 24.5 LPA
Experience - 3.5years
Quantiphi

Not a compensation question... Any insight on typical Travel Schedule and work life balance at D in M&A group would be helpful

like

Does anyone know what life at Medidata as a solutions consultant is? Work life balance, team culture, compensation?

I am considering a move, don't have an offer on my desk yet but advancing through the interviews. Would like to prepare if a decision will need to happen.

I like my current job but am starting to feel burnt out covering the understaffed presales team while not making any more money for my efforts. We also recently (a year ago) went through a merger that is causing me concern.

like

How do you calculate what tax bracket you will be at when you retire? Keep reading choose the option based of what tax bracket you will be at retirement but I literally have no clue

like

Hi all, anyone want to share their tips on how to answer the question about your salary expectations? I used to give a range but wondering if there is a better way of answering that while not giving any number directly.

like

Toronto folks - I live in a condo for rent and my lease ends in Sep 2021. My landlord wants to sell the place now and is asking me to vacate the condo in 2 months. What are the usual compensation that I can ask the landlord for? I am new to Canada and so trying to understand how to navigate this so that I don’t waste money and time doing it.

like

What is a good mid level (5+ yoe) Data Scientist salary range in Raleigh, NC ?

like

Got a SFA external reporting offer at a F500. 22% raise from my S1 salary just under 6 figs. In a MCOL/HCOL east region… do I jump if my goal is to be a controller?

like

I'm a first year associate making 45k with possibility for high bonus, but I am seriously considering leaving my firm because the posts in here have helped me realize I am underpaid. Is it better to stay and get more experience - I do l like where I am - or move on for a more livable salary and WLB?

like

Anyone here a Client Onboarding Associate for an RIA? We have YE reviews coming up soon. I’m pretty sure I am a shoe in for a promotion, but in case I don’t get it (god-forbid), what is the going salary for this position? I would definitely ask for a raise and a merit bass bonus, so I want to gauge what you all think a good salary is for this role. Any thoughts? Oh! I am also based in NYC.

like

What’s the salary for Managers at Strategy& in Toronto? And next level up and down (assuming it’s SC and Principal?) thanks

like

Hi fishes,
What are the benefits apart from salary in IQVIA?

What’s the right salary range in BizOps role Big Tech for 5.5 YOE Consulting + 2 YOE (before consulting)?

Current TCO : 150k in NYC

Hi All,
How much compensation can one get for a scrum master role with 6 years of experience.
Holding an offer of 20 LPA from a product based company.

like
like

More Posts

Anyone in restructuring that I can DM some questions?

like

I'm a first year associate making 45k with possibility for high bonus, but I am seriously considering leaving my firm because the posts in here have helped me realize I am underpaid. Is it better to stay and get more experience - I do l like where I am - or move on for a more livable salary and WLB?

like

Not sure who needs to hear this: just because you have a series of multicultural people spiking the camera doesn’t make your spot powerful.

likefunny

The company I work for is based out of a different state. They’re HR team makes more because of cost of living. Well, that has changed dramatically and over the last 3 years my state has soared passed theirs. Our team has not received inflation adjustment and we still make less than the team in our base office because of “cost of living”. My team and I have worked hard to demonstrate this but we are not being heard. The obvious would be to look elsewhere but other than this issue, I’m happy here

like

Hey Fishes - Help required

Post Photo
like

McKinsey & Company Bain & Company Is anyone hiring for Finance roles or Financial Analytics roles? If yes Can anyone help me get a referral? I need a job with work from home or once in a while model or any opportunity outside India but permanent. I have 1.5yrs experience of EY and currently working in a Fintech project of IT company. Total Exp: 2.5yrs Deloitte Accenture EY Bain & Company Barclays Tata Consultancy PwC KPMG McKinsey & Company BDO Reliance Industries Limited

Hi

Is it a deterrent if ID does not know storyline?

Remote: Senior G/L Accountant - StockX - est. $80K+ - 7yrs exp - CPA a plus

likesmart

Tips for helping kids stay on task during zoom? Our little class (9 kids) has been doing zoom circle times twice a week but I noticed they are really distracted. Also every meeting a kid leave...

like

what’s your go to Starbucks drink? I usually do a grande blonde roast with toffee and soy. Looking to try something new!

likehelpful

Need recs for men’s PC bag. Looking for leather, at least 4” deep, functional interior, sleek/modern, higher-end designer (a step from Tumi). Has anyone seen a good Ferragamo or comparable bag?

I had already applied for a position with Infy in the portal and could see many related positions for aws in Infosys but im not getting any calls.

Even the portal not allowing to apply multiple positions.What is the best way to get calls from Infosys in this case ?

Infosys Infosys Limited

likefunny

Hello,

How is SAP practice in PWC. What kind of projects we can expect to work.
Also will it be support or implementation projects.
What are the work hours usually? Can we finish the work in the mornings and attend only calls in the evening to match the timezone? How flexible is it?

Thanks in advance.

Citi I have an Interview with Citi bank for Angular Developer UI Position, Can somebody please tell me the interview process and the question ask mostly for Angular Developer Position.

like

SDE- III openings in @SIXT. DM for referral

like

I have a brand new person on my team- she is totally new to the field, has recently returned to the workforce (solo mom of 3 teens), is very smart. I knew when I hired her that I’d have to lean in to get her to where she needed to be. She has a ton of potential but lacks experience in a professional setting. I need to help her level up her written communication skills. Any suggestions on books, resources, strategies? She is learning by doing and takes feedback but I want more supports for her.

likeupliftingsmarthelpful
like

Anyone recommend the georgia tech online masters for computer science? Were you able to successfully move over into swe role ?

like

I (28F) went on a date and everything was going great until the guy (33M) revealed he was currently carrying an active handgun on his belt for protection. I talked to some friends and family about this and they don't think it's a big deal. The date was otherwise really great. I just can't seem to get over this piece.

Has anyone ever been in a relationship where you had differing opinions on the gun control debate?

funnylike

Why do Partners move from one Big4 to another?

likehelpful

Additional Posts in Accounting

Does anyone here use Avalara or Vertex? Interested in hearing any likes/dislikes and how the user experience is.

like

EY home page: Another year of strong growth EY salary discussions: This year was average to a down year

like

Has anyone on here done accounting work with Beech Valley as an independent contractor? Im curious as to how steady the work is and how it might look on a resume.

likesmart

Anyone else Captaining their Career away from GT this summer too? I mean besides the 4 seniors who have already left my office.

likefunny

Have virtual interviews tomorrow and Friday (both with same company) - I know 150% if I got an offer, I would not accept. Had a ton of coaching meetings this week regarding a different offer I’ve been considering and I don’t want to leave my current place of work. Cancel tomorrow and Friday interviews or no cancel and potentially get an offer and decline? (I am fairly busy so biggest opportunity cost is my time and having to wfh to do video interviews during the workday)

like

How do you calculate your utilization and what % threshold is the goal for each level (audit) ?

like

Has anyone gone from public accounting to FBI? Curious about how the transition has been, looks interesting.

like

If you are starting as an Audit Associate some time from now with Deloitte or any of the big 4, do they expect you to have passed/completed all 4 parts by the time you start? Received the Becker Reimbursement email from the recruiter not too long ago but have yet to start. I’ve seen plenty of people get to Senior at a big 4 firm without the CPA so I am a bit confused in that aspect. Any helpful feedback will be very much appreciated.

likehelpful

Do new audit staff at PwC have access to Independence Checkpoint? I want to preclear an investment but I can't seem to log into the tool.

like

Question: does anyone know if the new hires starting in October in the Dallas market are actually starting at $60k?

like

I have to travel to my client every week and the client’s office is attached to a very nice hotel that’s $250 per night. There’s a hotel right across the street that’s $150 per night.. it’s alright, but not as great. Should I be mindful about how much I’m spending or should I blow up the budget until someone says something?

likefunnysmart

Riding home from the office only to do some more work when I get home. Ehhh...

like

It's sad that public accounting is used as a stepping stone. It's a great job, but working 60-70 hours a week is not acceptable. Just because you did it (management) doesn't make it justifiable.

like

Anyone in employment tax? How's that field like? Interesting? What about credits and incentives? TIA

like

So clutch that I aged out of the draft like 2 months ago

like

A recruiter said : "if you see a job posting you like, let me know and I'll see if I have any connections" ... How do they benefit in this case? Would I have to give them some sort of commission?

EY ladies...do you all use the tote bag they allowed you to select during on-boarding? It's is cheesy to use that bag, since it's generic and everyone has it?

like

Getting ignored by your senior manager when you're trying to be proactive and avoid unnecessary fire drills 👎

like

Day dreaming during busy season: what would you do if money is no issue? I will quit my job now and go to MIT/Stanford for grad school without considering the tuition$$$.lame? But I really like school

like

Audit Manager or Senior on the Manager path:
If you don't like what you do, why/how do you stay until now?

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Send download link to your phone

OR

Scan your QR code to download
Fishbowl app on your mobile

By continuing you agree to Terms of Use and Privacy Policy.

Messaging rates may apply

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal