Ask Experts Questions for FREE Help !
Ask
    Tempo's Avatar
    Tempo Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Apr 15, 2007, 06:23 PM
    Sign-on bouns + taxes
    Hi!

    I'm due to graduate this May and I start work in nyc in July. I am receiving a $ 10000 sign on bonus and I was wondering if (1) this income is taxed and (2) if the taxes will be deducted upfront. Thanks for your help!
    The Texas Tax Expert's Avatar
    The Texas Tax Expert Posts: 310, Reputation: 7
    Full Member
    		  
    #2

    Apr 15, 2007, 06:31 PM
    Yes, it would be taxable. They should withhold tax.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #3

    Apr 20, 2007, 12:31 PM
    They should withhold at 30%.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Sign-on bonus taxes [ 17 Answers ]

Hi, I started working in July 04 (was in college before then). I received a signon bonus from my company, before I started work. Hence, I was not taxed on it before starting. I was supposed to have been after I started working, but that never happened. So I know for this return I should be...

Sign-on bonus - taxes [ 1 Answers ]

I currently live and work in nyc and am considering taking a position with a company in New Jersey. They are offering me a sign-on bonus and I was curious what percentage I would need to pay in taxes and if that would be deducted up-front. Is a sign-on bonus treated the same as a "regular" bonus...

Filing for 2004 taxes and 2005 taxes [ 1 Answers ]

Hi I just received my W2 from my employer and there were 2 W2's. One W2 was for the wages of Dec 2004 (since the employer pays 1 month delayed salary) and the other one was for Jan - Nov 2005. I want to know if I can refile my 2004 taxes since I just got my Dec 2004's W2. If I add that...

View more questions Search