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    drew8771's Avatar
    drew8771 Posts: 3, Reputation: 1
    New Member
    		  
    #1

    Oct 27, 2008, 01:44 PM
    Taxes on my re-enlistment bonus
    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?
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
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    #2

    Oct 28, 2008, 02:53 PM
    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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