How much of my re-enlistment bonus is going to be taxed if I'm getting 29,500 my state taxes doesn't matter too much because I'm getting all that back. I just want to know how much of that money is going to hit my acct?
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How much of my re-enlistment bonus is going to be taxed if I'm getting 29,500 my state taxes doesn't matter too much because I'm getting all that back. I just want to know how much of that money is going to hit my acct?
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.
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