I’m really sorry to ask, but can someone explain how the Bonus and raises work? I’m new to US and this will be my first time getting this bonus. What %, taxes etc., if promoted. Thanks In advance.

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1/3rd of your total compensation will go to taxes. After insurance and other things like that, expect 60% of your salary to reach your paycheck. Expect the same for bonuses but bonuses are held at the maximum tax withholding, so they normally result in a tax refund later since they are over withheld at first. For a bonus, 50% will reach your paycheck, you’ll get the 10% back when you file your tax return.

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Federal statutory withholdingn 22 %. State varies. Fica 6.2. Medicare 1.45

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Now I understand! Thanks!

Uncle Sam usually takes 40%

A bonus is one time versus a raise which is a salary increase

By your practice group based on you individual performance rating + the firms performance

Thank you all!

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