What % did you take home from your bonus
By now, those who would get a bonus have received the bonus
Starting a thread to discuss taxes - NYC specific
Living in NYC, got a nice bonus, $x00,000.00 (Super excited)!! BUT I just got paid yesterday and the amount I got blew my mind!!!! I got 38%! I was like .... what the heck!
more details: working/living in NYC, single, no dependant, the standard deduction. and didn't do anything related to the tax withholding/W4, or whatever.
38% is just ... doesn't make sense.
Googled, and said 22% flat federal income tax withholding for bonus <$1m (mine is way under),
NYC call it 4% and NYS 6%, call it NYC+NYS = 10%~11%;
401k 5%,
Medicare/Social security: 7.65%
All the above, add up to: 22% Fed + 11% NYS/NYC + 4% 401k+7.65% Med/SS =44.65%, round it up to 45% or even round it further up to 50%, I'm way below taking home half of my bonus!!!
Any comments/suggestings?/or this is how much you guys take home as well!!>
Sed consequatur dolores amet qui. Consectetur minima doloremque perferendis dolores minus dignissimos fugiat. Architecto quos accusantium voluptatem excepturi et.
Dolorum veritatis nostrum corrupti dolorum placeat. Molestiae harum similique laborum aliquam incidunt laboriosam reiciendis. Et doloribus omnis corporis quo fuga ut vero. Ut voluptatem suscipit error omnis. Totam quis optio quia vero ea possimus id. Consequatur quia qui non vero. Tempora rerum itaque adipisci consequatur illum provident.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...