Anonymous
Post 01/31/2023 18:23     Subject: How much of your bonus was withheld for taxes?
Anonymous wrote:Bonus is $125,000 - how much will be withheld for taxes? We have been paying quarterly taxes and salary is $410,000. Online says bonus will be taxed at 22% but that doesn’t sound right. Will we owe a lot more since we haven’t paid enough yearly taxes since the bonus will push up annual income significantly? How does spouses income factor into all of this? Spouse makes $105,000 and withholds 0.


If your employer doesn’t allow you to change the withholding amount it will be the standard federal 22% plus state/local/Medicare/social security. You’ll have to estimate your full tax situation to figure out how much you will owe at tax time. You at least in the 35% federal tax bracket so you will need to increase your quarterly payment.
Anonymous
Post 01/31/2023 17:23     Subject: How much of your bonus was withheld for taxes?
DW and I each received a $1k bonus. The net for mine was ~$600, but I have an additional $200 in federal taxes withheld from each pay.
Anonymous
Post 01/31/2023 16:55     Subject: How much of your bonus was withheld for taxes?
my bonus was 200k. when it hit my bank account is was 105k.
Anonymous
Post 01/31/2023 16:44     Subject: Re:How much of your bonus was withheld for taxes?
Anonymous wrote:
Anonymous wrote:I was going to be jealous of you until you revealed your spouse makes peanuts. Phew! Our HHI is still higher.


wow.


I suspect sarcasm. From that perspective I thought PP was pretty funny.
Anonymous
Post 01/31/2023 16:33     Subject: Re:How much of your bonus was withheld for taxes?
Anonymous wrote:I was going to be jealous of you until you revealed your spouse makes peanuts. Phew! Our HHI is still higher.


haha well thats good to know!
Anonymous
Post 01/31/2023 10:14     Subject: Re:How much of your bonus was withheld for taxes?
Anonymous wrote:I was going to be jealous of you until you revealed your spouse makes peanuts. Phew! Our HHI is still higher.


wow.
Anonymous
Post 01/31/2023 10:12     Subject: How much of your bonus was withheld for taxes?
You will owe a lot more than was withheld because that likely isn’t enough withholding. Hopefully your quarterly taxes cover that difference.
Anonymous
Post 01/31/2023 10:05     Subject: Re:How much of your bonus was withheld for taxes?
I was going to be jealous of you until you revealed your spouse makes peanuts. Phew! Our HHI is still higher.
Anonymous
Post 01/31/2023 10:02     Subject: Re:How much of your bonus was withheld for taxes?
Not knowing your complete financial situation, it does sound like you'll have to pay more in taxes down the road, but unless you directed the employer to withhold more, 22% is the default amount for federal withholding on bonuses.

My employer just started asking people a few years ago if they wanted to withhold more, so I have no idea how common that is.
Anonymous
Post 01/31/2023 09:19     Subject: How much of your bonus was withheld for taxes?
Oh god, not again.

https://www.dcurbanmom.com/jforum/posts/list/1105813.page
Anonymous
Post 01/31/2023 08:16     Subject: How much of your bonus was withheld for taxes?
Bonus is $125,000 - how much will be withheld for taxes? We have been paying quarterly taxes and salary is $410,000. Online says bonus will be taxed at 22% but that doesn’t sound right. Will we owe a lot more since we haven’t paid enough yearly taxes since the bonus will push up annual income significantly? How does spouses income factor into all of this? Spouse makes $105,000 and withholds 0.