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    jennytaxques's Avatar
    jennytaxques Posts: 2, Reputation: 1
    New Member
    		  
    #1

    Dec 17, 2011, 01:55 PM
    Payroll bonus
    I got a christmas bonus of $370.00. They took in taxes 92.50 fed tax, nys tax $36.15, social security 15.54 and medicare $5.37. It left me with $220.44. Can you receive your full bonus, and then pay your taxes at the end of the year?
    jennytaxques's Avatar
    jennytaxques Posts: 2, Reputation: 1
    New Member
    		  
    #2

    Dec 17, 2011, 01:57 PM
    Can bonuses be taxed?
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #3

    Dec 17, 2011, 02:26 PM
    Bonuses are taxable. Therefore, the company has to withhold.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
    Expert
    		  
    #4

    Dec 17, 2011, 05:01 PM
    Yes they are suppose to withhold taxes. At times company may give small gift cards but when bonus is given in check though payroll taxes are withheld.
    osiris1's Avatar
    osiris1 Posts: 13, Reputation: 3
    New Member
    		  
    #5

    Dec 20, 2011, 12:09 PM
    Bonus are taxable. For 2011 the federal supplemental wage/bonus rate is 25% or 35% is it is above $1 million (not including state income tax, if applicable in your state). You can submit a W4 exempting yourself from federal income taxes (it doesn't change your liability, just what your employer will take out of your check) but the employer will always deduct FICA (Social Security and Medicare) from your check no matter what. At least you got a bonus thought, that's still nice.
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