What should I plan to expect in terms of taxes on my bonus this year?

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Bonuses are not taxed differently from your regular income.

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Employers have more than one option for withholding on supplemental wages. But the tax rate is the tax rate (plus state taxes). Most recently for me, I got a sign on bonus of 100k in NYC and that translated to a check for 56k.

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For federal taxes, the withholding rates stayed the same at 0%, 10%, 12%, 22%, 24%, 32%, 35%, or 37%. The brackets were adjusted to account for inflation. The math also depends on state taxes and where your total compensation lands in tax brackets.

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Tax man is taking a big cut

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Beyond actual tax rates, it’ll be withheld at a flat rate of 22% federal (plus 4.4% NYS plus social security / medicare). If your marginal rate is over 22%, just note you’ll owe more at tax time.

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That’s exactly how my advisor explained it.

Mine was taxed at 46% as a first and second year

Withheld maybe, but not taxed.

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