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drew8771
Oct 27, 2008, 01:44 PM
How much of my re-enlistment bonus is going to be taxed if im getting 29,500 my state taxes doesnt matter too much because im getting all that back. i just want to know how much of that money is going to hit my acct?
AtlantaTaxExpert
Oct 28, 2008, 02:53 PM
The first $9,000 of your re-enlistment bonus will be taxed at 15%.

The rest will be taxed at 25%.

These are approximates based on you being single and filing with only your own exemption and the standard deduction, and assuming that you get ALL of the re-enlistment bonus in 2008.