because i have a question, so my last weeks paycheck i grossed $538 and netted $417 and my they took $40 out for federal taxes and this week we got a “bonus check” with our regular check and they gave me $400 gross but i netted only $218 and they took $96 out for federal? now to me that does not make sense at all because my other check is a lot more than this bonus one and didnt take nearly as much out in federal taxes and the bonus.
maybe someone can chime in with some insight here to help me understand
that week you were in a higher tax bracket bc of the bonus. it all evens out in the end, thats why you file taxes; to reconcile what your employer deducted on your behalf vs what you owe for your total income for that year.
Don’t worry about it. You’ll get it back come tax time. Bonus checks will always wonk up your withholdings. The only way to avoid is it change your exemptions before it is issued.
Bonus checks in NYS are ALWAYS withheld at 42% regardless of your witholdings. You’ll get back the difference when you do your taxes. It sucks… but that’s how it works.
I would agree with this… We have casual temporary workers, and when we send them home due to lack of work (with pay), the temp agencies classify it as a bonus, so they make a little less than actually working.
Every year I’m super excited to get my bonus check, because I forget how much they take from it, then I’m bummed. I get a little over $800 taken from my bonus.
