Taxes/Bonuses

[ya falaha! 0]

Ok how is it that the gov't can take 1/4 of my bonus in federal taxes?????? This blows!

[MHandMB 0]

I feel your pain!!!!! The same thing happened to me. I keep thinking what I could have done with the rest of that money and how much money the government wastes every year....

[mawilson 2,133]

Ok how is it that the gov't can take 1/4 of my bonus in federal taxes?????? This blows!

Only 1/4? Lucky you.

[ya falaha! 0]

The 1/4 was in federal taxes alone. They also took state and medicare taxes as well. I hate that they tax bonuses!

[Ban Hammer 13,334]

Ok how is it that the gov't can take 1/4 of my bonus in federal taxes?????? This blows!

Only 1/4? Lucky you.

agreed. for me it's almost half.

[mawilson 2,133]

The 1/4 was in federal taxes alone. They also took state and medicare taxes as well. I hate that they tax bonuses!

Yep....it sucks. Why don't we get "tax bonuses"?

[ya falaha! 0]

I would say in total they took about 40% of my bonus. I was all geeked that I was getting $500 more than last year until I saw how much the gov't took. Scrooges!

Ok how is it that the gov't can take 1/4 of my bonus in federal taxes?????? This blows!

Only 1/4? Lucky you.

agreed. for me it's almost half.

[Ban Hammer 13,334]

now get back to work. thousands on welfare depend on you!

I would say in total they took about 40% of my bonus. I was all geeked that I was getting $500 more than last year until I saw how much the gov't took. Scrooges!

Ok how is it that the gov't can take 1/4 of my bonus in federal taxes?????? This blows!

Only 1/4? Lucky you.

agreed. for me it's almost half.

[ya falaha! 0]

I will not! I will spend 40% of my work day on VJ as a protest.

[Ban Hammer 13,334]

I will not! I will spend 40% of my work day on VJ as a protest.

that's right, leave it for me - just cause i got a large paycheck coming up.

[*julez* 124]

Bonus? What's a bonus?????

[Yodrak 7]

moody,

The government did not take 1/4 of your bonus, your company gave it to the government. The government will be happy to refund it to you if your company has over-withheld you.

Many companies' software bases the withholding amount on the annualized value of the current pay being taxed. When a bonus is thrown in on top of normal pay, the software does not recognize it as a one-time payment and sees you as having an annual income that is far larger than it will actually be, and calculates the withholding amount on the basis of that unusually large annual income.

Your complaint is with your company, not the government.

Yodrak

Ok how is it that the gov't can take 1/4 of my bonus in federal taxes?????? This blows!

Edited December 20, 2006 by Yodrak

[rebeccajo 14]

I think Yodrak is an accountant..............

[TracyTN 237]

My company adjusts the amount of the gift so that I actually receive the correct amount even after the govt has had their share.

So I agree - I think your gripe should be with your company.

[brnidokiegurl 0]

ours did come as seperate longevitity check now they put with the current monthly check and we really loose