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Theoretically you would get some of that back with a return. But if you have significant capital gains then you may be a net payer despite the overpay with the bonus
Ya it thinks that’s your total paycheck, it will at settle up when you file
Bonus get taxed at 22% for federal taxes. That’s before SS, Medicare, and state taxes. So yes, it could add up to 39%
That’s said it doesn’t matter all in. Your true tax rate is dealt with when you file your tax return in 2022
If your annualized bonus is something like $1M, it gets taxed at 35%
https://turbotax.intuit.com/tax-tips/jobs-and-career/how-bonuses-are-taxed/L7UjtAZbh
Bonuses usually get taxes withheld at 22% for federal. With fatca, state and local in NYC, 39% total seem reasonable.
In comparison, your marginal federal tax rate for normal paycheck would be lower