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View Full Version : I received a bonus check and was taxed 60%. I live in Wisconsin. Is that possible?


gabbeelee
Jan 13, 2011, 12:02 PM
I received a bonus checking for $2334 and neted out $1391. Is that possible be taxed at 60%?

AtlantaTaxExpert
Jan 13, 2011, 12:13 PM
Your math is off!

$1,391 of $2,334 is 60%, so the withholding is 40%.

Bonuses are typically withheld at 25-to-30% for federal INCOME tax, then 7.65% for FICA (Social Security and Medicare), and the rest for Wisconsin; hence, 40%.