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[quote=Anonymous][quote=Anonymous]Bonuses are taxed as ordinary income- so depending on your tax bracket, they will be taxed just like money from a paycheck. DH got a bonus at the end of the year- it was taxed at 22% and we just sent a large 4th quarter check to cover the rest because our tax bracket is higher than 22%. [/quote] Also, all of this other stuff is confusing. A regular cash bonus is treated by the IRS and state tax authorities as income. Your employer will tax it at 22% plus the applicable state taxes. If your tax bracket is higher than 22%, you will owe the difference come tax time. If your rate is lower than 22%, then you may get a refund. It's straightforward. [/quote]
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