{ "media_type": "text", "post_content": "Tax savvy people, i have questions. my employer reduced everyones salary during the first 6 months of covid, but offered a “bonus” (aka back to normal rate) if you were required to travel during this time. How will the temporary salary cut + travel bonus affect my filing? \nIdk I’m feeling petty", "post_id": "602e495215811d002289a713", "reply_count": 10, "vote_count": 1, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting" }

Tax savvy people, i have questions. my employer reduced everyones salary during the first 6 months of covid, but offered a “bonus” (aka back to normal rate) if you were required to travel during this time. How will the temporary salary cut + travel bonus affect my filing? Idk I’m feeling petty

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It’s taxes the same as salary. Bonuses have a flat withholding rate but are actually taxed at the same rate as your salary when you file taxes.

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You just enter the W2 information like you do every year. I’m assuming your tax liability will decrease if your earnings decreased, it’s usually how it works...

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Hahah fair answer.. I️ should just let turbo tax do it’s thing

How about telling us where you're from because tax regulations vary

What a weird way to ask a question lmao

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Why would this be any different from any normal year?

Lol yes not new to taxes, just dumb. My previous employer changed ownership during covid, I’m filing in a new state, and my health insurance coverage changed

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