2007-08-17 09:15:21 · 14 answers · asked by jaeleeamari2904 1 in Politics & Government ➔ Military
and if it isn't how much will I get? After taxes
2007-08-17 09:22:55 · update #1
It is Taxed, uncle sam wants his cut...lol But you can get it back when you do your taxes ;)
They take out 28%
2007-08-17 09:45:09 · answer #1 · answered by Ladybones 3 · 0⤊ 0⤋
It is not tax free, and taxes will be withheld at the highest rate. However, assuming that your total income (including the bonus) does not go above the highest income threshold, you will get some of it back at the end of the year.
The highest rate is 35%, so you will get about 13K, assuming that you don't have additional withholding from the state you are taxed in.
2007-08-17 09:26:16 · answer #2 · answered by Trav 4 · 0⤊ 0⤋
You will be taxed on that, however, if you re-enlist over in Iraq, and get a bonus for doing so, then its tax free, since its a tax free zone over there.
2007-08-17 09:26:35 · answer #3 · answered by George P 6 · 0⤊ 0⤋
No, being deployed would not waive your husband from paying taxes. as a techniques with the aid of fact the enlistment bonus, he purely gets it for x sort of years. Ever think of that the bonus is done.
2016-10-15 23:19:32 · answer #4 · answered by ? 4 · 0⤊ 0⤋
I'd figure about 13,000 total is what you'd get. Esp if you're single.
It's only tax free if you were overseas in a combat zone when you got the bonus.
2007-08-17 10:26:49 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Nope. It is taxed. The only way it is tax free is if you were in the military and you resigned overseas in a tax-free zone Ex: Iraq).
2007-08-17 09:47:28 · answer #6 · answered by Mary A 4 · 0⤊ 0⤋
no. expect 28% taken off the top. Most of which you will get back at tax time.
2007-08-17 11:08:24 · answer #7 · answered by Mrsjvb 7 · 0⤊ 0⤋
the only way military bonuses arent taxable is if they are combat pay....for instance my husband reenlisted while in a combat zone.......he took the dispursed payout (half up front and a percentage each year on his anniversary) none of that money is taxable because its listed as combat pay on his W2s.
2007-08-17 11:57:43 · answer #8 · answered by CRmac 5 · 0⤊ 0⤋
It should be but probably isn't. The IRS acts like they have a right to anything they want!!
2007-08-17 09:20:10 · answer #9 · answered by TyranusXX 6 · 0⤊ 0⤋
All bonuses are taxed. It sucks.
2007-08-17 09:18:36 · answer #10 · answered by Amy B 3 · 0⤊ 0⤋