For example, my boss gives me a $15,000 lump sum bonus. How much of it will actually go into my pocket.
2007-02-06 07:02:11 · 4 answers · asked by navymasteratarms 3 in Business & Finance ➔ Taxes ➔ United States
Your tax bite depends upon your taxable income. The rate goes up as income goes up. You'd get to keep somewhere between 57% and 77% of your bonus if you pay not state income tax. If you pay state income tax, knock another 2% - 8% depending upon your state's tax rates.
2007-02-06 07:08:36 · answer #1 · answered by Bostonian In MO 7 · 0⤊ 0⤋
Go and check on the Gvt Taxation website...its usually a fixed amount, plus a percentage of an amount exceeding a range of a certain income class...Not sure what the website will be,i`m back in SA
2007-02-06 15:07:51 · answer #2 · answered by RiNgO 1 · 0⤊ 0⤋
I think they take 50% on bonuses. For your pay every one has a bracket for taxes and it change every year.
2007-02-06 15:24:43 · answer #3 · answered by zuby2099 1 · 0⤊ 0⤋
95%
2007-02-06 15:09:42 · answer #4 · answered by onehottfem 2 · 0⤊ 0⤋