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letshegobohlolo
Dec 11, 2007, 05:11 AM
I've been working for this insurance company for the past for months and I will getting by annual bonus. I just need to find out that will both my bonus and salary be taxed?
tickle
Dec 11, 2007, 05:29 AM
Bonus is considered income, so yes it will be taxed same as salary.
AtlantaTaxExpert
Dec 11, 2007, 09:51 AM
It will be taxed the same as your salary, but it is likely that MORE money will be withheld, because lump sum payments (like bonuses) are subject to a 30% withholding.
MukatA
Dec 11, 2007, 10:24 AM
The bonus will be added in your income on the W2.
AtlantaTaxExpert
Dec 11, 2007, 12:30 PM
MukatA again adds something that I forgot!

Keep up the good work!