Page 1 of 1
Tax Q
Posted: Mon Apr 14, 2008 5:12 pm
by TheTodd
I've always, apparently incorrectly, thought that the Fed taxes a bonus at a higher rate than standard pay. I check on this but I found that they don't tax at a higher rate. Can someone confirm or deny this for me just so I am clear? Thanks.
Tax Q
Posted: Mon Apr 14, 2008 9:04 pm
by radbag
pm urap
though, as i understand it todd, they add your bonus AND your annual income as total income and tax at that rate which you qualify under.
total compensation thing.
Tax Q
Posted: Tue Apr 15, 2008 7:33 am
by a1bion
If you Google bonus taxes, there are calculators out there. I always thought it was taxed at a higher rate myself, since I always seem to get dinged for a straight up 25-30% of my bonuses.
Tax Q
Posted: Tue Apr 15, 2008 8:09 am
by MinGator
my thought was that they taxed at a rate that corresponded to your salary straight up and that is why the rate is so high when you get your check. of course once you do all of the adjusted gross income calcs your actual rate should be lower and essentially you overpaid when you received your bonus check.
Tax Q
Posted: Tue Apr 15, 2008 9:52 am
by radbag
think about it though.
if you were the gov't, wouldn't you lump it all together and tax at the higher rate?