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So, my husband just bonused for the first time at his job. He would have received about $3200, but it looks like it was taxed at almost 30%! That seems crazy to me! Should we expect to see any of this money back on our taxes? Sucks : (
Started by bparkhur on
, 24 posts
by 18 people.
Answer Snippets (Read the full thread at thenest):
How the bonus checks of your tax situation (like, if you were taxed $500 more than you should have been on the bonus, you bonus....
Of the day you owe the same tax on your bonus as you do on your other income.
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I need help on something. I can’t believe I don’t know this but I’m wondering if H's company made a mistake. It’s a little awkward which is why I can’t just call his boss and ask.
Anyway, he got a "gift" of a watch last Christmas from his boss aside from...
Started by FarmvilleLover on
, 30 posts
by 18 people.
Answer Snippets (Read the full thread at thenest):
But if this relates to 2011 and you are just now compensation and remit the $3K of ....
At tax time, you should owe nothing.
I rather be giftless on your behalf.
Do they tax you on Christmas presents from your parents DARN that is crazy.
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Are state and federal taxes higher on bonus checks? I live in NYS. what % of my bonus check is with held if over 1000.
Started by ERIN on
, 6 posts
by 6 people.
Answer Snippets (Read the full thread at yahoo):
Many states with a progressive income tax also....
Feds tax at 25% (plus% for federal income taxes, plus the usual FICA taxes.
When you file your taxes the amount is taxed at your regular income tax bracket.
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Why are my monthly bonuses at work taxed 40%? will this hurt or help me when I file my tax return?
Started by Blazzzzin on
, 6 posts
by 6 people.
Answer Snippets (Read the full thread at yahoo):
Unless your total income is high, you'll probably get some taxes and when the advance estimated....
5.65% for FICA and possibly 1% for a state employee tax are withheld from this bonus money tooFederal income tax alone will take 25%.
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Monthly bonus at work and taxes? I recently started getting monthly bonuses at work. Once a month. It's taxed about 40%. When I claim my taxes at the beginning of the year I claim 0 I have one w2 I don't own anything. I always get a refund. It's the most...
Started by Blazzzzin on
, 4 posts
by 4 people.
Answer Snippets (Read the full thread at yahoo):
And state income taxes and FICA taxes and when the advance estimated income tax withheld amount happen to be MORE than your FIT liability would be after the end of the tax year during the next years tax filing season....
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How much tax will be deducted from my bonus *UK only? Hey guys,
I earn £14,000 a year, roughly £990 after tax per month. I'm due a £400 bonus on top of my monthly salary. How much of this will be taken by tax - I've tried using on-line tax calculators...
Started by David on
, 2 posts
by 2 people.
Answer Snippets (Read the full thread at yahoo):
All allowance used up, nowhere near the higher rate - 20% tax - £80 tax - and NIC as well.
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How much tax will be deducted from my bonus *UK only? Hey guys,
I earn £14,000 a year, roughly £990 after tax per month. I'm due a £400 bonus on top of my monthly salary. How much of this will be taken by tax - I've tried using on-line tax calculators...
Started by David on
, 2 posts
by 2 people.
Answer Snippets (Read the full thread at yahoo):
All allowance used up, nowhere near the higher rate - 20% tax - £80 tax - and NIC as well.
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My wife got a $12000 enlistment bonus last year.It was taxed before she got it,She netted $9000.
Her income on her w2 was $9000 more than usual wich put us in a higher tax braket and gave us less than usual on our return.
Did we get double taxed,or should...
Started by wilcrstn on
, 6 posts
by 4 people.
Answer Snippets (Read the full thread at military):
The tax is withheld when the bonus to wrap my head around the bonus being taxed in advance then our tax bracket going up and getting taxed is paid....
A bonus is considered income if it's not in a combat zone.
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I am due a bonus shortly which if it was paid every month would mean I'm liable for 40% tax band.
My question is will HMRC know it's a one off bonus payment or will they think this is my new monthly salary and end up charging me 40% tax
I'm normally only...
Started by MoneySaverLog on
, 6 posts
by 6 people.
Answer Snippets (Read the full thread at moneysavingexpert):
Cumulative....
HMRC wont' even know about he bonus payment until the end of the tax year unless your employer cumulative tax code you won't end up paying higher rate tax unless your whole income for the year to the rest of the year.
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Hi,
Back in July 2011, I was earning £32500 per year (or £2708.33 per month gross). That same month, I received a £3250.00 bonus = £5958.33 gross pay. In that month, I paid £1067.00 tax, £400.93 National Insurance and £423.00 student loan, thus recieving...
Started by MaryJo on
, 7 posts
by 3 people.
Answer Snippets (Read the full thread at moneysavingexpert):
Unlikely but:
what was your total pay for the tax year
what was your tax for that year
what was your taxcode I've uploaded a spreadsheet showing my total earnings and tax paid for the year:
http://www.2shared.com/document/wKc7...aryAndTax....
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