So I am very lucky to have gotten a bonus from work for last year. I just got it though, and 45% was taken out for taxes!!!!! That just seems like an unrealisticly large amount! So it is like $700 less than I thought it would be- I thought I was figuring in the taxes that would have been taken out- like 30-35% but I guess I way under estimated! I know I am very lucky to have gotten it, but I cant help but be dissapointed in the final amount when I was expecting more.
RadiantBride
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Re: bonus
45% is about right. Normally the taxable amoumt for bonuses is anywhere between 45%-48%.
GinaZ
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Re: bonus
thats just insane! But I guess its right cus its a higher amount than my usual paychecks. But if they see my overall salary, I shouldnt be in that high of a tax bracket. I hope I get some of it back next year!
DeeDee1013
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Re: bonus
Posted by GinaZ
So I am very lucky to have gotten a bonus from work for last year. I just got it though, and 45% was taken out for taxes!!!!! That just seems like an unrealisticly large amount! So it is like $700 less than I thought it would be- I thought I was figuring in the taxes that would have been taken out- like 30-35% but I guess I way under estimated! I know I am very lucky to have gotten it, but I cant help but be dissapointed in the final amount when I was expecting more.
Usually, bonuses have their own higher tax percentages... that are not the same as the tax percentages used on your regular salary.
Kimbalina
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Re: bonus
That stinks that so much in taxes was taken out, but YEA for a bonus!!
joshisgirl
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Re: bonus
wow, i didn't know that they take out that much for bonuses! it seems so high.
