{ "media_type": "text", "post_content": "Taxes question. Got a 10k signing bonus, only got about 6k after taxes. Will I get any of that back next year when I do my taxes? If so how much should I expect?", "post_id": "5791103755270113005f9c69", "reply_count": 23, "vote_count": 0, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting", "feed_type": "crowd" }

Taxes question. Got a 10k signing bonus, only got about 6k after taxes. Will I get any of that back next year when I do my taxes? If so how much should I expect?

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Depends on your tax bracket.


I'd say you're unlikely to get any back - you aren't pulling down enough to max out FICA, so the withholding of FICA, FUTA, Medicare Part A and Federal Income Tax should come to roughly 40% all in. They withheld it at the rate determined by your regular salary and W4 config. Welcome to adulthood.


Don't asks PWC tax


Yes. Expect around 1-2k


D1 is right. If you got taxed at 40% for the bonus, and you should've only been taxed at 25% (based on your income), that would be ~1.5k. But since you're starting late in the year (assuming this is your first job and just started), you're only making ~40k this tax year. That should mean a lower tax bracket.


The answer is that nobody here knows the rest of your tax information so it is impossible to say, congrats on the bonus though


@d7, that's related to withholding not how much tax is actually paid which is a function of your marginal tax rate before you receive said bonus.


I started out in high net worth tax (fuck young me for being an idiot). This is a pretty common misconception, right along with people thinking making enough to put them in a higher bracket nets them less money as if all income is taxed at the same rate.


I pull in 80k so I'm not way up in the tax brackets, at least I don't think.

Probably. Bonuses are not taxed any differently. It's all just income.

I came from another firm though, brought on as an Exp hire.

Lol you'll likely never see it again

@D3, bonuses are taxed differently

@D7, that's simply not true


To everyone in this thread, fucking google it instead of spreading incorrect information


Turbotax is shady at, trying to pretend shit is complicated so people don't file their own faces with 1 w-2 and a brokerage statement


For the flat tax rate, the employee must pay 25 percent of the bonus to the federal government and then an additional flat tax rate to the state

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