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-   -   Bonus Tax (https://www.askmehelpdesk.com/showthread.php?t=161519)

  • Dec 11, 2007, 06:11 AM
    letshegobohlolo
    Bonus Tax
    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?
  • Dec 11, 2007, 06:29 AM
    tickle
    Bonus is considered income, so yes it will be taxed same as salary.
  • Dec 11, 2007, 10:51 AM
    AtlantaTaxExpert
    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.
  • Dec 11, 2007, 11:24 AM
    MukatA
    The bonus will be added in your income on the W2.
  • Dec 11, 2007, 01:30 PM
    AtlantaTaxExpert
    MukatA again adds something that I forgot!

    Keep up the good work!

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