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NO additional $15k
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Author: not a Tax Man Date:
8/9/2023 3:59:32 PM +2/-0
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You do realize we have a progressive tax rate system, right?
Let's say you would have been $1 shy of the next tax bracket at the end of the year. You now get a $15,000 bonus. At the end of the year, you are now $14,999 over into the next tax bracket. You only pay the higher rate on the $14,999. You don't pay the higher rate on ALL of your earnins for the year. You aren't getting screwed by getting bonus.
Speaking of bonues, here is a bonus tip for you. You know when you get that bonus they tax it at a high rate, right? At the end of the year, it is all just regular earlinings on your W-2. So you may have paid more when you got it, but it all works out in the end with whatever tax bracket you are in.
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AMC announces additional $15k stipend for (NT)
+0/-5 November 1 2024 8/6/2023 11:21:38 PM
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