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https://blog.turbotax.intuit.com/wp-content/uploads/2022/02/bonuses_calculator.jpg?resize=206,300 206w" sizes="(max-width: 411px) 100vw, 411px" /> </div> </div> <div class="rkv-entry__header__overlay category-income category-tax-planning-2 category-archive-list category-work has-video"> <div class="rkv-entry__header__overlay__inner"> <ul class="rkv-list-inline rkv-entry__categories rkv-category__list"> <li class="rkv-entry__category rkv-category__list__item"> <a class="tax-planning-2" href="https://blog.turbotax.intuit.com/category/tax-planning-2/"> Tax Planning </a> </li> </ul> <h1 class="rkv-entry__title"> How Bonuses Are Taxed: A Complete Guide </h1> <a href="#entry-content" class="rkv-entry-header__scroll-to-content"> <span> Read the Article </span> <svg width="24" height="24" viewBox="0 0 24 24" fill="none" xmlns="http://www.w3.org/2000/svg"> <path fill-rule="evenodd" clip-rule="evenodd" d="M5.24968 7.03369L11.9997 13.7837L18.7497 7.03369L20.3407 8.62468L11.9997 16.9657L3.65869 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href="https://blog.turbotax.intuit.com/author/turbotaxlisa/" title="Posts by TurboTaxLisa" class="author url fn" rel="author">TurboTaxLisa</a></span></li> <li class="rkv-entry__byline-date">Published Jan 9, 2024<em> - [Updated Nov 4, 2024] </em></li> <li class="rkv-entry__read-time"> 5 min read </li> </ul> </header> <div class="entry__content" id="entry-content"> <div class="rkv-block-cta rkv-desktop-only" data-cta-id="66856"> <div class="wp-block-group is-style-small-padding is-layout-constrained wp-block-group-is-layout-constrained"><div class="wp-block-group__inner-container"> <div class="wp-block-gwp-authentication"><div id="gwp-auth-react-app"></div></div> </div></div> </div><p>If you received a bonus you’re likely curious about taxes. You might be asking, “<a href="https://blog.turbotax.intuit.com/tax-planning-2/holiday-bonus-season-how-your-holiday-bonus-is-taxed-20760/">how taxes are withheld from your bonuses</a> when you receive them?”</p> <p>As the holiday season approaches, many employees are hopeful for a <a href="https://blog.turbotax.intuit.com/tax-planning-2/holiday-bonus-season-how-your-holiday-bonus-is-taxed-20760/">holiday bonus</a>. While the prospect of extra cash can be uplifting, understanding how your bonus is taxed can help you determine how much money you鈥檒l receive after taxes.The IRS views any bonus you receive as wages. This means that almost all bonuses are taxed. In this guide, we鈥檒l discuss <a href="https://blog.turbotax.intuit.com/income-and-investments/bonus-round-5-tips-for-your-work-bonus-18507/">tips for receiving bonuses</a> and explain how you can use our bonus tax calculator to determine how much taxes will be withheld when you receive it.</p> <div class="rkv-jump-links "> <h2> Table of Contents </h2> <a href=#are-taxes-withheld-when-you-receive-a-bonus>Are taxes withheld when you receive a bonus?</a><a href=#how-are-bonus-taxes-calculated>How are bonus taxes calculated?</a><a href=#what-are-the-pros-of-each-bonus-tax-method>What are the pros of each bonus tax method?</a><a href=#what-are-the-cons-of-each-bonus-tax-method>What are the cons of each bonus tax method?</a><a href=#are-there-any-bonuses-that-might-not-be-taxable>Are there any bonuses that might not be taxable?</a><a href=#are-bonuses-taxed-federally-and-by-the-state>Are bonuses taxed federally and by the state?</a><a href=#are-there-ways-to-minimize-bonus-taxes>Are there ways to minimize bonus taxes?</a><a href=#what-happens-if-too-many-taxes-are-withheld-from-your-bonus>What happens if too many taxes are withheld from your bonus?</a><a href=#lower-the-bonus-taxes-you-owe-and-maximize-your-refund>Lower the bonus taxes you owe and maximize your refund</a> </div> <figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube"><div class="wp-block-embed__wrapper"> <iframe title="How are Bonuses Taxed?" width="500" height="281" class="youtube-player youtube-player" src="https://www.youtube-nocookie.com/embed/877CJxlmf0o?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe> </div></figure> <h2 class="wp-block-heading">Are taxes withheld when you receive a bonus?</h2> <p>At the time of receipt of your bonus, federal taxes are typically withheld by your employer that can be at ahigher tax rate than your actual tax rate used when you file your taxes. </p> <p>But don鈥檛 worry, since your actual <a href="https://blog.turbotax.intuit.com/tax-planning-2/what-is-a-tax-bracket-24007/">tax rate</a> based on your total taxable income for the year could be lower, you may get back some of what was withheld from your bonus as part of your federal tax refund.</p> <div class="wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-1 wp-block-buttons-is-layout-flex"> <div class="wp-block-button"><a href="https://myturbotax.intuit.com/?cid=soc_blog_button_file"class="wp-block-button__link has-brand-blue-mid-background-color has-background wp-element-button" >Get started</a></div> </div> <h2 class="wp-block-heading">How are bonus taxes calculated?</h2> <p>Employers typically use either of two methods for calculating federal tax withholding on your bonus:</p> <ol class="wp-block-list"> <li>The aggregate method </li> <li>The percentage method</li> </ol> <figure class="wp-block-image size-large"><img decoding="async" width="5417" height="4247" src="https://blog.turbotax.intuit.com/wp-content/uploads/2024/01/TurboTax-Blog-Refresh-2_graphic-1-1-1.png?w=580" alt="Graphic outlining the main differences between the aggregate method and percentage method." class="wp-image-66848" srcset="https://blog.turbotax.intuit.com/wp-content/uploads/2024/01/TurboTax-Blog-Refresh-2_graphic-1-1-1.png 5417w, https://blog.turbotax.intuit.com/wp-content/uploads/2024/01/TurboTax-Blog-Refresh-2_graphic-1-1-1.png?resize=150,118 150w, https://blog.turbotax.intuit.com/wp-content/uploads/2024/01/TurboTax-Blog-Refresh-2_graphic-1-1-1.png?resize=300,235 300w, https://blog.turbotax.intuit.com/wp-content/uploads/2024/01/TurboTax-Blog-Refresh-2_graphic-1-1-1.png?resize=768,602 768w, https://blog.turbotax.intuit.com/wp-content/uploads/2024/01/TurboTax-Blog-Refresh-2_graphic-1-1-1.png?resize=580,455 580w, https://blog.turbotax.intuit.com/wp-content/uploads/2024/01/TurboTax-Blog-Refresh-2_graphic-1-1-1.png?resize=1536,1204 1536w, https://blog.turbotax.intuit.com/wp-content/uploads/2024/01/TurboTax-Blog-Refresh-2_graphic-1-1-1.png?resize=2048,1606 2048w, https://blog.turbotax.intuit.com/wp-content/uploads/2024/01/TurboTax-Blog-Refresh-2_graphic-1-1-1.png?resize=740,580 740w, https://blog.turbotax.intuit.com/wp-content/uploads/2024/01/TurboTax-Blog-Refresh-2_graphic-1-1-1.png?resize=1440,1129 1440w, https://blog.turbotax.intuit.com/wp-content/uploads/2024/01/TurboTax-Blog-Refresh-2_graphic-1-1-1.png?resize=720,564 720w" sizes="(max-width: 5417px) 100vw, 5417px" /></figure> <h3 class="wp-block-heading">Aggregate method </h3> <p>If you receive your bonus along with your paycheck your employer will use the aggregate method to calculate your withholding.</p> <p>With the aggregate method, your employer or payroll provider will withhold federal taxes at the same  percentage that鈥檚 normally withheld from your paycheck.</p> <p>If 35% is withheld when you are paid, then your employer will withhold 35% from your bonus when you are paid your bonus.</p> <h3 class="wp-block-heading">Percentage method</h3> <p>When your employer issues your bonus separate from your paycheck your employer or payroll provider will withhold taxes using the percentage method.</p> <p>The percentage method is the simplest way to withhold bonus taxes since your employer or payroll provider will withhold federal taxes at a flat 22% rate and not at your normal tax rate when you are paid. </p> <p>Generally, most employers and payroll providers choose to use the percentage method. Under tax reform, the federal tax rate for withholding on a bonus was lowered to 22%, down from the federal income tax rate of 25%.</p> <p>Check out our updated bonus calculator. This tool answers one of our most frequently asked questions. You’ll get an estimate of how much federal taxes you can expect to be withheld from your bonuses when you receive them.</p> <link href="https://blog.turbotax.intuit.com/wp-content/plugins/intuit-calculators/templates/calculators/how-bonuses-are-taxed/assets/dist/main.css?v=1731434390" rel="stylesheet"><div class="intuit-calculator intuit-calculator-how-bonuses-are-taxed"> <div class="intuit-calculator--main"> <div class="rkv-grid-row header-row"> <div class="rkv-grid-col-6 header-row--image"> <img decoding="async" id="headline-image1" alt="" src="" /> </div> <div class="rkv-grid-col-6 header-row--headline"> <h2 id="headline-title-string">How Your Bonuses are Taxed</h2> </div> </div> <div class="rkv-grid-row responsive equal-height"> <div class="rkv-grid-col-6"> <div class="field-wrap"> <div class="title"> <label id="amount-of-last-paycheck-string" for="amount-of-last-paycheck"></label> </div> <input id="amount-of-last-paycheck" class="currency-float" type="text" placeholder="$0" /> </div> </div> <div class="rkv-grid-col-6"> <div class="field-wrap"> <div class="title"> <label id="amount-of-bonus-number-string" for="amount-of-bonus-number"></label> </div> <input id="amount-of-bonus-number" class="currency-float" type="text" placeholder="$0" /> </div> </div> </div> <div class="rkv-grid-row responsive equal-height"> <div class="rkv-grid-col-6"> <div class="field-wrap"> <div class="title"> <p id="total-paycheck-and-bonus-string"></p> </div> <span id="total-paycheck-and-bonus-result" class="currency-float"> — </span> </div> </div> <div class="rkv-grid-col-6"> <div class="field-wrap "> <div class="title"> <label for="annual-income-tax-rate" id="annual-income-tax-rate-string"> </label> </div> <div class="select-wrapper"> <select name="annual-income-tax-rate" id="annual-income-tax-rate" > </select> </div> <span class="error" id="annual-income-tax-rate-error"> </span> </div> </div> </div> <div class="rkv-grid-row responsive"> <div id="calculation-explanation-string"></div> </div> </div> <div class="intuit-calculator--result-wrapper"> <div class="rkv-grid-row responsive equal-height"> <div class="rkv-grid-col-6"> <div class="result"> <div class="title"> <legend id="aggregate-method-tax-withheld-string" for="aggregate-method-tax-withheld-result"></legend> </div> <span id="aggregate-method-tax-withheld-result"> — </span> <p id="aggregate-method-tax-withheld-help"></p> </div> </div> <div class="rkv-grid-col-6"> <div class="result"> <div class="title"> <legend id="percentage-method-tax-withheld-string" for="percentage-method-tax-withheld-result"></legend> </div> <span id="percentage-method-tax-withheld-result"> — </span> <p id="percentage-method-tax-withheld-help"></p> </div> </div> </div> </div> <div class="intuit-calculator--footer"> <div id="footer-string"> </div> <img decoding="async" id="footer-image" alt="" src="" /> </div> </div> <div style="display: none;" id="intuit-calculator-templates"> <div class="tooltip-template"><div class="tooltip-wrapper"> <button title="Toggle tooltip" > <img decoding="async" src="https://blog.turbotax.intuit.com/wp-content/plugins/intuit-calculators/templates/calculators/shared-assets/img/tooltip.svg" alt="Toggle tooltip"> </button> <div class="tooltip"> <div class="tooltip--text" > </div> <div class="tooltip--arrow"></div> </div> </div> </div></div> <h2 class="wp-block-heading">What are the pros of each bonus tax method?</h2> <p>The pros of each method depend on what your regular tax rate is.  If you are in a lower tax bracket with a lower tax rate, then being taxed at your regular lower tax rate in the aggregate method as opposed to the percentage method at 22% is probably more beneficial to you.  If you are in a higher income bracket and your tax rate is over 22% then having taxes withheld using the percentage method will give you more of your bonus.  One thing to remember, at tax time you may get some of what was withheld from your bonus back when you file your taxes.</p> <figure class="wp-block-image size-large"><img decoding="async" width="5472" height="3648" src="https://blog.turbotax.intuit.com/wp-content/uploads/2024/01/shutterstock_712767091.jpg?w=580" alt=" Man accepting a bonus check." class="wp-image-66683" srcset="https://blog.turbotax.intuit.com/wp-content/uploads/2024/01/shutterstock_712767091.jpg 5472w, https://blog.turbotax.intuit.com/wp-content/uploads/2024/01/shutterstock_712767091.jpg?resize=150,100 150w, https://blog.turbotax.intuit.com/wp-content/uploads/2024/01/shutterstock_712767091.jpg?resize=300,200 300w, https://blog.turbotax.intuit.com/wp-content/uploads/2024/01/shutterstock_712767091.jpg?resize=768,512 768w, https://blog.turbotax.intuit.com/wp-content/uploads/2024/01/shutterstock_712767091.jpg?resize=580,387 580w, https://blog.turbotax.intuit.com/wp-content/uploads/2024/01/shutterstock_712767091.jpg?resize=1536,1024 1536w, https://blog.turbotax.intuit.com/wp-content/uploads/2024/01/shutterstock_712767091.jpg?resize=2048,1365 2048w, https://blog.turbotax.intuit.com/wp-content/uploads/2024/01/shutterstock_712767091.jpg?resize=740,493 740w, https://blog.turbotax.intuit.com/wp-content/uploads/2024/01/shutterstock_712767091.jpg?resize=1440,960 1440w, https://blog.turbotax.intuit.com/wp-content/uploads/2024/01/shutterstock_712767091.jpg?resize=720,480 720w" sizes="(max-width: 5472px) 100vw, 5472px" /></figure> <h2 class="wp-block-heading">What are the cons of each bonus tax method?</h2> <p>There are downsides to both the aggregate and percentage methods.</p> <p>The aggregate method can add unnecessary confusion to your bonus taxes because your income tax rate comes into play, which involves your <a href="https://blog.turbotax.intuit.com/tax-planning-2/tax-withholdings-and-your-w-4-7196/">W-4 form</a>. In some cases it can lead to paying a larger percentage of your bonus in taxes which also means you have access to a smaller portion of your bonus.</p> <p>If your regular tax rate is higher than the flat 22% rate used in the percentage method, then the percentage method provides you with more of your bonus than the aggregate method. However, this could result in a smaller  tax refund or possible taxes owed.</p> <p>At the end of the day, the method used by your employer or payroll provider depends on if you receive your bonus together with your paycheck or separately. For a contractor bonus<strong>, </strong> taxes are not withheld since you are considered self-employed so it鈥檚 best to use tax saving tips for contractors included <a href="https://blog.turbotax.intuit.com/work/contractor-bonus-taxed-58543/">here.</a></p> <figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="5417" height="3143" src="https://blog.turbotax.intuit.com/wp-content/uploads/2024/01/TurboTax-Blog-Refresh-2_graphic-2-1.png?w=580" alt="Graphic depicting examples of a bonus taxed under the aggregate and percentage method." class="wp-image-66850" srcset="https://blog.turbotax.intuit.com/wp-content/uploads/2024/01/TurboTax-Blog-Refresh-2_graphic-2-1.png 5417w, https://blog.turbotax.intuit.com/wp-content/uploads/2024/01/TurboTax-Blog-Refresh-2_graphic-2-1.png?resize=150,87 150w, https://blog.turbotax.intuit.com/wp-content/uploads/2024/01/TurboTax-Blog-Refresh-2_graphic-2-1.png?resize=300,174 300w, https://blog.turbotax.intuit.com/wp-content/uploads/2024/01/TurboTax-Blog-Refresh-2_graphic-2-1.png?resize=768,446 768w, https://blog.turbotax.intuit.com/wp-content/uploads/2024/01/TurboTax-Blog-Refresh-2_graphic-2-1.png?resize=580,337 580w, https://blog.turbotax.intuit.com/wp-content/uploads/2024/01/TurboTax-Blog-Refresh-2_graphic-2-1.png?resize=1536,891 1536w, https://blog.turbotax.intuit.com/wp-content/uploads/2024/01/TurboTax-Blog-Refresh-2_graphic-2-1.png?resize=2048,1188 2048w, https://blog.turbotax.intuit.com/wp-content/uploads/2024/01/TurboTax-Blog-Refresh-2_graphic-2-1.png?resize=740,429 740w, https://blog.turbotax.intuit.com/wp-content/uploads/2024/01/TurboTax-Blog-Refresh-2_graphic-2-1.png?resize=1440,836 1440w, https://blog.turbotax.intuit.com/wp-content/uploads/2024/01/TurboTax-Blog-Refresh-2_graphic-2-1.png?resize=720,418 720w" sizes="auto, (max-width: 5417px) 100vw, 5417px" /></figure> <h2 class="wp-block-heading">Are there any bonuses that might not be taxable?</h2> <p>Bonuses you receive from your employer are considered <a href="https://blog.turbotax.intuit.com/income-and-investments/what-you-should-know-about-supplemental-income-31429/">supplemental income</a>. This means they鈥檙e taxable by the IRS. However, certain fringe benefits may not be considered <a href="https://turbotax.intuit.com/tax-tips/jobs-and-career/how-bonuses-are-taxed/L7UjtAZbh">taxable bonuses</a>. This includes benefits like event tickets and gift baskets.</p> <p>Other gifts received as awards may also be exempt from taxes in some cases. This might include:</p> <ul class="wp-block-list"> <li>Cash</li> <li>Cash equivalents</li> <li>Vacations</li> </ul> <h2 class="wp-block-heading">Are bonuses taxed federally and by the state?</h2> <p>Bonuses are always federally taxed, and some states may have additional taxes for bonuses. Bonus tax rates vary from state to state, so you can check your state tax regulations to determine your tax rate.</p> <figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1000" height="667" src="https://blog.turbotax.intuit.com/wp-content/uploads/2024/01/shutterstock_2111420807.jpg?w=580" alt="Image of young woman using a calculator and a laptop in home office." class="wp-image-66681" srcset="https://blog.turbotax.intuit.com/wp-content/uploads/2024/01/shutterstock_2111420807.jpg 1000w, https://blog.turbotax.intuit.com/wp-content/uploads/2024/01/shutterstock_2111420807.jpg?resize=150,100 150w, https://blog.turbotax.intuit.com/wp-content/uploads/2024/01/shutterstock_2111420807.jpg?resize=300,200 300w, https://blog.turbotax.intuit.com/wp-content/uploads/2024/01/shutterstock_2111420807.jpg?resize=768,512 768w, https://blog.turbotax.intuit.com/wp-content/uploads/2024/01/shutterstock_2111420807.jpg?resize=580,387 580w, https://blog.turbotax.intuit.com/wp-content/uploads/2024/01/shutterstock_2111420807.jpg?resize=740,494 740w, https://blog.turbotax.intuit.com/wp-content/uploads/2024/01/shutterstock_2111420807.jpg?resize=720,480 720w" sizes="auto, (max-width: 1000px) 100vw, 1000px" /></figure> <h2 class="wp-block-heading">Are there ways to minimize bonus taxes?</h2> <p>There are several ways you can minimize the amount of bonus taxes you owe, but it鈥檚 important to abide by federal and state tax laws. Here are some tips for minimizing bonus taxes:</p> <ul class="wp-block-list"> <li> Ask your employer to defer your bonus until next year</li> </ul> <h2 class="wp-block-heading">What happens if too many taxes are withheld from your bonus?</h2> <p>If too much taxes are withheld from your bonus, you may get some of what was withheld back in the form of a tax refund once you file your taxes.</p> <h2 class="wp-block-heading">Lower the bonus taxes you owe and maximize your refund</h2> <p>Tax season can bring about new tax implcations, especially if you recently received your first bonus. Our bonus-tax calculator makes it easy to estimate how much taxes will be withheld from your bonus when you receive it. That way, you can get an estimation of how much of your bonus you will keep and figure out what moves you can make to help your finance and tax outcome.</p> <p>Try our bonus calculator for an estimate of your bonus tax withholding. No matter what moves you made last year,<a href="https://turbotax.intuit.com/"> TurboTax</a> will make them count on your taxes. Whether you want to do your taxes yourself or have a <a href="https://turbotax.intuit.com/personal-taxes/online/live/full-service/">TurboTax expert</a> file for you, we’ll make sure you get every dollar you deserve and your biggest possible refund – guaranteed. </p> <div class="wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-2 wp-block-buttons-is-layout-flex"> <div class="wp-block-button"><a href="https://myturbotax.intuit.com/?cid=soc_blog_button_file"class="wp-block-button__link has-brand-blue-mid-background-color has-background wp-element-button" >Get started</a></div> </div> <div class="rkv-block-cta rkv-mobile-only" data-cta-id="66856"> <div class="wp-block-group is-style-small-padding is-layout-constrained wp-block-group-is-layout-constrained"><div class="wp-block-group__inner-container"> <div class="wp-block-gwp-authentication"><div id="gwp-auth-react-app"></div></div> </div></div> </div> </div> <div class="entry__meta"> <div class="rkv-entry__series-wrapper"> <ul class="rkv-entry__series rkv-series__list"> <li class="rkv-entry__series__prev"> <a href="https://blog.turbotax.intuit.com/business/how-to-file-small-business-taxes-55650/"> <div class="rkv__entry__series__content"> <h2 class="p"><span></span>Previous Post</h2> <p>How to File Small Business Taxes</p> </div> </a> </li> <li class="rkv-entry__series__next"> <a href="https://blog.turbotax.intuit.com/taxes-101/dont-let-filing-multiple-w-2s-scare-you-3714/"> <div class="rkv__entry__series__content"> <h2 class="p">Next Post<span></span></h2> <p>Don鈥檛 Let Filing Multiple W-2s Scare You</p> </div> </a> </li> </ul> </div> <div class="rkv-author-box"> <div class="rkv-author-box__avatar rkv-desktop-only"> <img class="avatar photo" src="https://i0.wp.com/blog.turbotax.intuit.com/wp-content/uploads/2022/07/48fda397defc01628230bf241d7559c5.png?resize=256%2C256&ssl=1" alt="Lisa Greene-Lewis" width="256" height="256" loading="lazy" /> </div> <div class="rkv-author-box__text"> <div class="rkv-author-box__header"> <div class="rkv-author-box__avatar rkv-mobile-only"> <img class="avatar photo" src="https://i0.wp.com/blog.turbotax.intuit.com/wp-content/uploads/2022/07/48fda397defc01628230bf241d7559c5.png?resize=96%2C96&ssl=1" alt="Lisa Greene-Lewis" width="96" height="96" loading="lazy" /> </div> <h2> <span>Written by </span> <a href="https://blog.turbotax.intuit.com/author/turbotaxlisa/"> Lisa Greene-Lewis </a> </h2> </div> <div class="rkv-author-box__description"> <p>Lisa has over 20 years of experience in tax preparation. Her success is attributed to being able to interpret tax laws and help clients better understand them. She has held positions as a public auditor, controller, and operations manager. Lisa has appeared on the Steve Harvey Show, the Ellen Show, and major news broadcast to break down tax laws and help taxpayers understand what tax laws mean to them. For Lisa, getting timely and accurate information out to taxpayers to help them keep more of their money is paramount. <a class="rkv-author-box__link" href="https://blog.turbotax.intuit.com/author/turbotaxlisa/">More from Lisa Greene-Lewis</a></p> </div> <div class="rkv-author-box__links"> <a href="https://twitter.com/a%20class=intuit-social%20intuit-social-twitter%20href=http://@TTaxLisaFollow%20TurboTaxLisa%20on%20Twitter/a"> <svg role="img" width="14" height="14" viewBox="0 0 14 14" fill="none" xmlns="http://www.w3.org/2000/svg"> <title> Follow Lisa Greene-Lewis on Twitter. </title> <path d="M13.5625 2.99415C13.0702 3.20807 12.5492 3.34901 12.0162 3.4125C12.5764 3.08448 12.9977 2.56336 13.201 1.94688C12.6714 2.25657 12.0929 2.47387 11.4904 2.58946C11.2367 2.32355 10.9315 2.11201 10.5935 1.9677C10.2555 1.82339 9.89164 1.74933 9.5241 1.75C8.03605 1.75 6.83184 2.93672 6.83184 4.39961C6.83078 4.6031 6.8541 4.80597 6.90129 5.00391C5.83425 4.95389 4.7894 4.68169 3.83359 4.20472C2.87778 3.72776 2.03205 3.05653 1.35051 2.23399C1.11141 2.63707 0.984958 3.09697 0.984375 3.56563C0.984375 4.48438 1.46371 5.29649 2.1875 5.77227C1.75868 5.76209 1.33864 5.6486 0.963047 5.44141V5.47422C0.963047 6.75938 1.89273 7.82852 3.1232 8.07188C2.89182 8.13356 2.65337 8.16482 2.41391 8.16485C2.24399 8.16515 2.07445 8.14866 1.90777 8.11563C2.24984 9.16836 3.24543 9.93399 4.42477 9.95586C3.46647 10.6944 2.28993 11.0936 1.08008 11.0906C0.865325 11.0903 0.650772 11.0775 0.4375 11.0524C1.66829 11.8383 3.09899 12.254 4.5593 12.25C9.51836 12.25 12.2276 8.21133 12.2276 4.7086C12.2276 4.59375 12.2246 4.47891 12.2191 4.3668C12.7449 3.99276 13.1999 3.52793 13.5625 2.99415Z" fill="#242424"/> </svg> </a> </div> </div> </div> </div> <div class="comments__content">  <h3 id="comments"> 27 responses to “How Bonuses Are Taxed: A Complete Guide” </h3> <div class="navigation"> <div class="alignleft"></div> <div class="alignright"></div> </div> <ol class="commentlist"> <li id="comment-205303" class="comment even thread-even depth-1"> <article id="div-comment-205303" class="comment-body"> <div class="comment-avatar"> <img alt='' src='https://secure.gravatar.com/avatar/9fb6468d33e2f835a54ef705bbb60171?s=128&d=identicon&r=g' srcset='https://secure.gravatar.com/avatar/9fb6468d33e2f835a54ef705bbb60171?s=256&d=identicon&r=g 2x' class='avatar avatar-128 photo' height='128' width='128' loading='lazy' decoding='async'/> </div> <div class="comment-inner"> <footer class="comment-meta"> <img alt='' src='https://secure.gravatar.com/avatar/9fb6468d33e2f835a54ef705bbb60171?s=64&d=identicon&r=g' srcset='https://secure.gravatar.com/avatar/9fb6468d33e2f835a54ef705bbb60171?s=128&d=identicon&r=g 2x' class='avatar avatar-64 photo' height='64' width='64' loading='lazy' decoding='async'/> <div class="comment-author vcard"> <strong class="fn">Mr. H</strong> <span class="says">says:</span> </div>  <div class="comment-metadata"> <a href="https://blog.turbotax.intuit.com/tax-planning-2/how-bonuses-are-taxed-calculator-15628/#comment-205303"> <time datetime="2015-01-24T12:02:26-08:00"> January 24, 2015 at 12:02 pm </time> </a> </div>  </footer>  <div class="comment-content"> <p>This year I received a one-time bonus, a severance package, a vacation buy out, relocation assistance, a signing bonus, and an annual Manager Incentive Plan bonus. This totaled $187K above my normal salary. </p> <p>Of these sources of supplemental wages, the only one I expect to see again is the annual MIP bonus (~$20K annually). </p> <p>Uncle Sam took me to the cleaners (at least what has been withheld). How do I income average over 5 years in Turbo Tax so that I’m not taking as big of a hit this year, and does it even make a difference? </p> <p>My base salary is about $125K.</p> <div class="reply"> </div>  </div>  </div> </article> </li> <li id="comment-193415" class="comment odd alt thread-odd thread-alt depth-1"> <article id="div-comment-193415" class="comment-body"> <div class="comment-avatar"> <img alt='' src='https://secure.gravatar.com/avatar/75bc131bdacbcd5d36a1d0ecbf26099f?s=128&d=identicon&r=g' srcset='https://secure.gravatar.com/avatar/75bc131bdacbcd5d36a1d0ecbf26099f?s=256&d=identicon&r=g 2x' class='avatar avatar-128 photo' height='128' width='128' loading='lazy' decoding='async'/> </div> <div class="comment-inner"> <footer class="comment-meta"> <img alt='' src='https://secure.gravatar.com/avatar/75bc131bdacbcd5d36a1d0ecbf26099f?s=64&d=identicon&r=g' srcset='https://secure.gravatar.com/avatar/75bc131bdacbcd5d36a1d0ecbf26099f?s=128&d=identicon&r=g 2x' class='avatar avatar-64 photo' height='64' width='64' loading='lazy' decoding='async'/> <div class="comment-author vcard"> <strong class="fn">andy</strong> <span class="says">says:</span> </div>  <div class="comment-metadata"> <a href="https://blog.turbotax.intuit.com/tax-planning-2/how-bonuses-are-taxed-calculator-15628/#comment-193415"> <time datetime="2014-12-31T14:29:57-08:00"> December 31, 2014 at 2:29 pm </time> </a> </div>  </footer>  <div class="comment-content"> <p>Alison, Matt & Patrick Nguyen are correct. There are a lot of misleading blog-posts out there, especially by Intuit, that lead people to believe, that, supplemental income such as bonus checks are taxed differently than regular wages. It’s the WITHHOLDING, not the actual tax liability. Look at a 1040 or a W2. Is there a box for bonus/supplemental income? The net amount in your pocket will be the same either way – after you file your return. That does not suggest that you should ignore choosing the more ideal method of withholding calculation for your individual tax situation to keep from giving Uncle Sam an interest free loan.</p> <div class="reply"> </div>  </div>  </div> </article> </li> <li id="comment-187720" class="comment even thread-even depth-1"> <article id="div-comment-187720" class="comment-body"> <div class="comment-avatar"> <img alt='' src='https://secure.gravatar.com/avatar/d90489f9239bd9abea7c62f33c9c14ae?s=128&d=identicon&r=g' srcset='https://secure.gravatar.com/avatar/d90489f9239bd9abea7c62f33c9c14ae?s=256&d=identicon&r=g 2x' class='avatar avatar-128 photo' height='128' width='128' loading='lazy' decoding='async'/> </div> <div class="comment-inner"> <footer class="comment-meta"> <img alt='' src='https://secure.gravatar.com/avatar/d90489f9239bd9abea7c62f33c9c14ae?s=64&d=identicon&r=g' srcset='https://secure.gravatar.com/avatar/d90489f9239bd9abea7c62f33c9c14ae?s=128&d=identicon&r=g 2x' class='avatar avatar-64 photo' height='64' width='64' loading='lazy' decoding='async'/> <div class="comment-author vcard"> <strong class="fn">Patrick Nguyen</strong> <span class="says">says:</span> </div>  <div class="comment-metadata"> <a href="https://blog.turbotax.intuit.com/tax-planning-2/how-bonuses-are-taxed-calculator-15628/#comment-187720"> <time datetime="2014-12-17T17:55:40-08:00"> December 17, 2014 at 5:55 pm </time> </a> </div>  </footer>  <div class="comment-content"> <p>The wording in the bonus calculator is incorrect. It says that bonuses “may be taxed at a higher rate” or “will be taxed at a flat 25% rate.” This is incorrect. The TAX WITHHOLDING is different, but the actual TAX is calculated when the return is filed.</p> <div class="reply"> </div>  </div>  </div> </article> </li> <li id="comment-132591" class="comment odd alt thread-odd thread-alt depth-1"> <article id="div-comment-132591" class="comment-body"> <div class="comment-avatar"> <img alt='' src='https://secure.gravatar.com/avatar/341be3bd7eab6c5d87981634488efc08?s=128&d=identicon&r=g' srcset='https://secure.gravatar.com/avatar/341be3bd7eab6c5d87981634488efc08?s=256&d=identicon&r=g 2x' class='avatar avatar-128 photo' height='128' width='128' loading='lazy' decoding='async'/> </div> <div class="comment-inner"> <footer class="comment-meta"> <img alt='' src='https://secure.gravatar.com/avatar/341be3bd7eab6c5d87981634488efc08?s=64&d=identicon&r=g' srcset='https://secure.gravatar.com/avatar/341be3bd7eab6c5d87981634488efc08?s=128&d=identicon&r=g 2x' class='avatar avatar-64 photo' height='64' width='64' loading='lazy' decoding='async'/> <div class="comment-author vcard"> <strong class="fn">Larry</strong> <span class="says">says:</span> </div>  <div class="comment-metadata"> <a href="https://blog.turbotax.intuit.com/tax-planning-2/how-bonuses-are-taxed-calculator-15628/#comment-132591"> <time datetime="2014-08-19T09:49:05-07:00"> August 19, 2014 at 9:49 am </time> </a> </div>  </footer>  <div class="comment-content"> <p>Hello,<br /> I earn $250K annually (w2) and received a $80,000 contract signing bonus. I am told my net bonus will only be $42,266 after taxes. This seems wrong to me.<br /> I live in New York State.</p> <div class="reply"> </div>  </div>  </div> </article> <ul class="children"> <li id="comment-221187" class="comment even depth-2"> <article id="div-comment-221187" class="comment-body"> <div class="comment-avatar"> <img alt='' src='https://secure.gravatar.com/avatar/80293f12e7e9bd49eb7ca4267c09100c?s=128&d=identicon&r=g' srcset='https://secure.gravatar.com/avatar/80293f12e7e9bd49eb7ca4267c09100c?s=256&d=identicon&r=g 2x' class='avatar avatar-128 photo' height='128' width='128' loading='lazy' decoding='async'/> </div> <div class="comment-inner"> <footer class="comment-meta"> <img alt='' src='https://secure.gravatar.com/avatar/80293f12e7e9bd49eb7ca4267c09100c?s=64&d=identicon&r=g' srcset='https://secure.gravatar.com/avatar/80293f12e7e9bd49eb7ca4267c09100c?s=128&d=identicon&r=g 2x' class='avatar avatar-64 photo' height='64' width='64' loading='lazy' decoding='async'/> <div class="comment-author vcard"> <strong class="fn">Frank</strong> <span class="says">says:</span> </div>  <div class="comment-metadata"> <a href="https://blog.turbotax.intuit.com/tax-planning-2/how-bonuses-are-taxed-calculator-15628/#comment-221187"> <time datetime="2015-03-16T10:23:12-07:00"> March 16, 2015 at 10:23 am </time> </a> </div>  </footer>  <div class="comment-content"> <p>Larry,<br /> Welcome to NYS. Highest taxes lowest wages…</p> <div class="reply"> </div>  </div>  </div> </article> </li> </ul> </li> <li id="comment-124850" class="comment odd alt thread-even depth-1"> <article id="div-comment-124850" class="comment-body"> <div class="comment-avatar"> <img alt='' src='https://secure.gravatar.com/avatar/7c91cf4efe210f682eca2729fa2601ef?s=128&d=identicon&r=g' srcset='https://secure.gravatar.com/avatar/7c91cf4efe210f682eca2729fa2601ef?s=256&d=identicon&r=g 2x' class='avatar avatar-128 photo' height='128' width='128' loading='lazy' decoding='async'/> </div> <div class="comment-inner"> <footer class="comment-meta"> <img alt='' src='https://secure.gravatar.com/avatar/7c91cf4efe210f682eca2729fa2601ef?s=64&d=identicon&r=g' srcset='https://secure.gravatar.com/avatar/7c91cf4efe210f682eca2729fa2601ef?s=128&d=identicon&r=g 2x' class='avatar avatar-64 photo' height='64' width='64' loading='lazy' decoding='async'/> <div class="comment-author vcard"> <strong class="fn">Phi Lieu</strong> <span class="says">says:</span> </div>  <div class="comment-metadata"> <a href="https://blog.turbotax.intuit.com/tax-planning-2/how-bonuses-are-taxed-calculator-15628/#comment-124850"> <time datetime="2014-07-24T07:40:18-07:00"> July 24, 2014 at 7:40 am </time> </a> </div>  </footer>  <div class="comment-content"> <p>My employee claim exempt and have the bonus payout. Should we withhold as flat rate for tax?</p> <div class="reply"> </div>  </div>  </div> </article> </li> <li id="comment-106536" class="comment even thread-odd thread-alt depth-1"> <article id="div-comment-106536" class="comment-body"> <div class="comment-avatar"> <img alt='' src='https://secure.gravatar.com/avatar/2bcae72d71f45556dbc0401a4ca191c6?s=128&d=identicon&r=g' srcset='https://secure.gravatar.com/avatar/2bcae72d71f45556dbc0401a4ca191c6?s=256&d=identicon&r=g 2x' class='avatar avatar-128 photo' height='128' width='128' loading='lazy' decoding='async'/> </div> <div class="comment-inner"> <footer class="comment-meta"> <img alt='' src='https://secure.gravatar.com/avatar/2bcae72d71f45556dbc0401a4ca191c6?s=64&d=identicon&r=g' srcset='https://secure.gravatar.com/avatar/2bcae72d71f45556dbc0401a4ca191c6?s=128&d=identicon&r=g 2x' class='avatar avatar-64 photo' height='64' width='64' loading='lazy' decoding='async'/> <div class="comment-author vcard"> <strong class="fn">Angela</strong> <span class="says">says:</span> </div>  <div class="comment-metadata"> <a href="https://blog.turbotax.intuit.com/tax-planning-2/how-bonuses-are-taxed-calculator-15628/#comment-106536"> <time datetime="2014-05-29T08:17:08-07:00"> May 29, 2014 at 8:17 am </time> </a> </div>  </footer>  <div class="comment-content"> <p>Hello!<br /> I am a school teacher at a school that is closing. The school will be paying out my entire summer pay in one check. I am concerned that the tax withholding will eat into the funds that I need to sustain my household. I am in the 25% tax bracket in my pay. The lump payment will be for an entire month’s pay (two payments). What would be a “safe” amount to increase my deductions to for this payment??</p> <div class="reply"> </div>  </div>  </div> </article> </li> <li id="comment-86134" class="comment odd alt thread-even depth-1"> <article id="div-comment-86134" class="comment-body"> <div class="comment-avatar"> <img alt='' src='https://secure.gravatar.com/avatar/87627b2d5c03232ed2cc4c869b0c6d1c?s=128&d=identicon&r=g' srcset='https://secure.gravatar.com/avatar/87627b2d5c03232ed2cc4c869b0c6d1c?s=256&d=identicon&r=g 2x' class='avatar avatar-128 photo' height='128' width='128' loading='lazy' decoding='async'/> </div> <div class="comment-inner"> <footer class="comment-meta"> <img alt='' src='https://secure.gravatar.com/avatar/87627b2d5c03232ed2cc4c869b0c6d1c?s=64&d=identicon&r=g' srcset='https://secure.gravatar.com/avatar/87627b2d5c03232ed2cc4c869b0c6d1c?s=128&d=identicon&r=g 2x' class='avatar avatar-64 photo' height='64' width='64' loading='lazy' decoding='async'/> <div class="comment-author vcard"> <strong class="fn">TurboBonuQ</strong> <span class="says">says:</span> </div>  <div class="comment-metadata"> <a href="https://blog.turbotax.intuit.com/tax-planning-2/how-bonuses-are-taxed-calculator-15628/#comment-86134"> <time datetime="2014-04-20T20:08:04-07:00"> April 20, 2014 at 8:08 pm </time> </a> </div>  </footer>  <div class="comment-content"> <p>Hi, I will receive a relocation bonus $20K from future employer. I have an option to get that bonus now (currently live in CA) or later (when I will move to WA) – the employer is in WA. Does it make sense to wait till I move to WA before accepting the bonus (in terms of paying less state tax)? For purpose of this calculation we can use annual base salary at $160K+ (excluding this bonus, etc.)… Please advice! Thanks in advance</p> <div class="reply"> </div>  </div>  </div> </article> </li> <li id="comment-58801" class="comment even thread-odd thread-alt depth-1"> <article id="div-comment-58801" class="comment-body"> <div class="comment-avatar"> <img alt='' src='https://secure.gravatar.com/avatar/7037e5a42126ebf2d111a2395943eba1?s=128&d=identicon&r=g' srcset='https://secure.gravatar.com/avatar/7037e5a42126ebf2d111a2395943eba1?s=256&d=identicon&r=g 2x' class='avatar avatar-128 photo' height='128' width='128' loading='lazy' decoding='async'/> </div> <div class="comment-inner"> <footer class="comment-meta"> <img alt='' src='https://secure.gravatar.com/avatar/7037e5a42126ebf2d111a2395943eba1?s=64&d=identicon&r=g' srcset='https://secure.gravatar.com/avatar/7037e5a42126ebf2d111a2395943eba1?s=128&d=identicon&r=g 2x' class='avatar avatar-64 photo' height='64' width='64' loading='lazy' decoding='async'/> <div class="comment-author vcard"> <strong class="fn">CHARLES PEARL</strong> <span class="says">says:</span> </div>  <div class="comment-metadata"> <a href="https://blog.turbotax.intuit.com/tax-planning-2/how-bonuses-are-taxed-calculator-15628/#comment-58801"> <time datetime="2014-01-17T15:06:49-08:00"> January 17, 2014 at 3:06 pm </time> </a> </div>  </footer>  <div class="comment-content"> <p>Please this is my first time am filing, i only want to put my Wages and Federal Tax W/H…. I don’t want to include Soc Sec Wages and Medicare Tax W/H… Hope it won’t stop my payment..</p> <div class="reply"> </div>  </div>  </div> </article> </li> <li id="comment-58385" class="comment odd alt thread-even depth-1"> <article id="div-comment-58385" class="comment-body"> <div class="comment-avatar"> <img alt='' src='https://secure.gravatar.com/avatar/6d3cb6cf7fecec0998215c5d4f00ab32?s=128&d=identicon&r=g' srcset='https://secure.gravatar.com/avatar/6d3cb6cf7fecec0998215c5d4f00ab32?s=256&d=identicon&r=g 2x' class='avatar avatar-128 photo' height='128' width='128' loading='lazy' decoding='async'/> </div> <div class="comment-inner"> <footer class="comment-meta"> <img alt='' src='https://secure.gravatar.com/avatar/6d3cb6cf7fecec0998215c5d4f00ab32?s=64&d=identicon&r=g' srcset='https://secure.gravatar.com/avatar/6d3cb6cf7fecec0998215c5d4f00ab32?s=128&d=identicon&r=g 2x' class='avatar avatar-64 photo' height='64' width='64' loading='lazy' decoding='async'/> <div class="comment-author vcard"> <strong class="fn">beck</strong> <span class="says">says:</span> </div>  <div class="comment-metadata"> <a href="https://blog.turbotax.intuit.com/tax-planning-2/how-bonuses-are-taxed-calculator-15628/#comment-58385"> <time datetime="2014-01-14T07:42:15-08:00"> January 14, 2014 at 7:42 am </time> </a> </div>  </footer>  <div class="comment-content"> <p>Can I claim the money that I have sent to a relative that is in TDC ?</p> <div class="reply"> </div>  </div>  </div> </article> </li> <li id="comment-56279" class="comment even thread-odd thread-alt depth-1"> <article id="div-comment-56279" class="comment-body"> <div class="comment-avatar"> <img alt='' src='https://secure.gravatar.com/avatar/68f8e0ad5f1ce3fe5437468757e72083?s=128&d=identicon&r=g' srcset='https://secure.gravatar.com/avatar/68f8e0ad5f1ce3fe5437468757e72083?s=256&d=identicon&r=g 2x' class='avatar avatar-128 photo' height='128' width='128' loading='lazy' decoding='async'/> </div> <div class="comment-inner"> <footer class="comment-meta"> <img alt='' src='https://secure.gravatar.com/avatar/68f8e0ad5f1ce3fe5437468757e72083?s=64&d=identicon&r=g' srcset='https://secure.gravatar.com/avatar/68f8e0ad5f1ce3fe5437468757e72083?s=128&d=identicon&r=g 2x' class='avatar avatar-64 photo' height='64' width='64' loading='lazy' decoding='async'/> <div class="comment-author vcard"> <strong class="fn">Robert L</strong> <span class="says">says:</span> </div>  <div class="comment-metadata"> <a href="https://blog.turbotax.intuit.com/tax-planning-2/how-bonuses-are-taxed-calculator-15628/#comment-56279"> <time datetime="2013-12-16T12:25:34-08:00"> December 16, 2013 at 12:25 pm </time> </a> </div>  </footer>  <div class="comment-content"> <p>I purchased a travel trailer in Delaware with a bank loan. I have paid my Pennsylvania state sales tax for the purchase. I have been told that if it has a bathroom etc it is eligible for a tax deduction is this true ?</p> <div class="reply"> </div>  </div>  </div> </article> <ul class="children"> <li id="comment-56720" class="comment byuser comment-author-turbotaxmaryellen odd alt depth-2"> <article id="div-comment-56720" class="comment-body"> <div class="comment-avatar"> <img alt='' src='https://secure.gravatar.com/avatar/237af4e2cc3631c61212d08bd8d58e4e?s=128&d=identicon&r=g' srcset='https://secure.gravatar.com/avatar/237af4e2cc3631c61212d08bd8d58e4e?s=256&d=identicon&r=g 2x' class='avatar avatar-128 photo' height='128' width='128' loading='lazy' decoding='async'/> </div> <div class="comment-inner"> <footer class="comment-meta"> <img alt='' src='https://secure.gravatar.com/avatar/237af4e2cc3631c61212d08bd8d58e4e?s=64&d=identicon&r=g' srcset='https://secure.gravatar.com/avatar/237af4e2cc3631c61212d08bd8d58e4e?s=128&d=identicon&r=g 2x' class='avatar avatar-64 photo' height='64' width='64' loading='lazy' decoding='async'/> <div class="comment-author vcard"> <strong class="fn">TurboTax Mary Ellen</strong> <span class="says">says:</span> </div>  <div class="comment-metadata"> <a href="https://blog.turbotax.intuit.com/tax-planning-2/how-bonuses-are-taxed-calculator-15628/#comment-56720"> <time datetime="2013-12-27T10:00:27-08:00"> December 27, 2013 at 10:00 am </time> </a> </div>  </footer>  <div class="comment-content"> <p>A travel trailer with a kitchen and a bathroom will qualify as a second home, and the loan interest would be deductible as mortgage interest. If your loan company does not report the interest on form 1098, TurboTax has a box on the screen titled “Tell Us More About Your Loan from …”. Check the box “I did not receiva a 1098. Enter the amount of the interest you paid on the next screen, then Yes on the Was This a Seller-Financed Loan? You can then enter the bank’s information on the next screen. You may need to request the bank’s Federal ID number from the bank if it is not on any of the paperwork you have from the bank.</p> <p>Mary Ellen</p> <div class="reply"> </div>  </div>  </div> </article> <ul class="children"> <li id="comment-56795" class="comment even depth-3"> <article id="div-comment-56795" class="comment-body"> <div class="comment-avatar"> <img alt='' src='https://secure.gravatar.com/avatar/68f8e0ad5f1ce3fe5437468757e72083?s=128&d=identicon&r=g' srcset='https://secure.gravatar.com/avatar/68f8e0ad5f1ce3fe5437468757e72083?s=256&d=identicon&r=g 2x' class='avatar avatar-128 photo' height='128' width='128' loading='lazy' decoding='async'/> </div> <div class="comment-inner"> <footer class="comment-meta"> <img alt='' src='https://secure.gravatar.com/avatar/68f8e0ad5f1ce3fe5437468757e72083?s=64&d=identicon&r=g' srcset='https://secure.gravatar.com/avatar/68f8e0ad5f1ce3fe5437468757e72083?s=128&d=identicon&r=g 2x' class='avatar avatar-64 photo' height='64' width='64' loading='lazy' decoding='async'/> <div class="comment-author vcard"> <strong class="fn">Robert L</strong> <span class="says">says:</span> </div>  <div class="comment-metadata"> <a href="https://blog.turbotax.intuit.com/tax-planning-2/how-bonuses-are-taxed-calculator-15628/#comment-56795"> <time datetime="2013-12-30T06:49:23-08:00"> December 30, 2013 at 6:49 am </time> </a> </div>  </footer>  <div class="comment-content"> <p>Thank You</p> <div class="reply"> </div>  </div>  </div> </article> </li> </ul> </li> </ul> </li> <li id="comment-55500" class="comment odd alt thread-even depth-1"> <article id="div-comment-55500" class="comment-body"> <div class="comment-avatar"> <img alt='' src='https://secure.gravatar.com/avatar/6aba33956dd3bb160bac5357fad3630d?s=128&d=identicon&r=g' srcset='https://secure.gravatar.com/avatar/6aba33956dd3bb160bac5357fad3630d?s=256&d=identicon&r=g 2x' class='avatar avatar-128 photo' height='128' width='128' loading='lazy' decoding='async'/> </div> <div class="comment-inner"> <footer class="comment-meta"> <img alt='' src='https://secure.gravatar.com/avatar/6aba33956dd3bb160bac5357fad3630d?s=64&d=identicon&r=g' srcset='https://secure.gravatar.com/avatar/6aba33956dd3bb160bac5357fad3630d?s=128&d=identicon&r=g 2x' class='avatar avatar-64 photo' height='64' width='64' loading='lazy' decoding='async'/> <div class="comment-author vcard"> <strong class="fn">Stephanie Coy</strong> <span class="says">says:</span> </div>  <div class="comment-metadata"> <a href="https://blog.turbotax.intuit.com/tax-planning-2/how-bonuses-are-taxed-calculator-15628/#comment-55500"> <time datetime="2013-12-05T12:06:11-08:00"> December 5, 2013 at 12:06 pm </time> </a> </div>  </footer>  <div class="comment-content"> <p>I have a 17 yr old daughter who father has managing conservitorship of however she has lived in my home for 2 yrs now. Which i can prove with school records and medicaid. Her father hasnt lived in our city in over a yr n isnt supporting her finacally at all. He claims he can claim her on his 2013 taxes. There is nothing in our court documents stating anything regarding taxes. Can i claim her this yr? Or does he have to.?</p> <div class="reply"> </div>  </div>  </div> </article> <ul class="children"> <li id="comment-55962" class="comment even depth-2"> <article id="div-comment-55962" class="comment-body"> <div class="comment-avatar"> <img alt='' src='https://secure.gravatar.com/avatar/ae9407d23cb18a90d1d7a4a091006ca9?s=128&d=identicon&r=g' srcset='https://secure.gravatar.com/avatar/ae9407d23cb18a90d1d7a4a091006ca9?s=256&d=identicon&r=g 2x' class='avatar avatar-128 photo' height='128' width='128' loading='lazy' decoding='async'/> </div> <div class="comment-inner"> <footer class="comment-meta"> <img alt='' src='https://secure.gravatar.com/avatar/ae9407d23cb18a90d1d7a4a091006ca9?s=64&d=identicon&r=g' srcset='https://secure.gravatar.com/avatar/ae9407d23cb18a90d1d7a4a091006ca9?s=128&d=identicon&r=g 2x' class='avatar avatar-64 photo' height='64' width='64' loading='lazy' decoding='async'/> <div class="comment-author vcard"> <strong class="fn">Sally</strong> <span class="says">says:</span> </div>  <div class="comment-metadata"> <a href="https://blog.turbotax.intuit.com/tax-planning-2/how-bonuses-are-taxed-calculator-15628/#comment-55962"> <time datetime="2013-12-11T18:44:13-08:00"> December 11, 2013 at 6:44 pm </time> </a> </div>  </footer>  <div class="comment-content"> <p>You should have all rights to claim her. she lives with you. do your taxes before him and once he does his taxes, he wont be able to claim her cause you already did. good luck</p> <div class="reply"> </div>  </div>  </div> </article> </li> </ul> </li> <li id="comment-54696" class="comment odd alt thread-odd thread-alt depth-1"> <article id="div-comment-54696" class="comment-body"> <div class="comment-avatar"> <img alt='' src='https://secure.gravatar.com/avatar/148fbfad48f09c57d1689f4e157c38e0?s=128&d=identicon&r=g' srcset='https://secure.gravatar.com/avatar/148fbfad48f09c57d1689f4e157c38e0?s=256&d=identicon&r=g 2x' class='avatar avatar-128 photo' height='128' width='128' loading='lazy' decoding='async'/> </div> <div class="comment-inner"> <footer class="comment-meta"> <img alt='' src='https://secure.gravatar.com/avatar/148fbfad48f09c57d1689f4e157c38e0?s=64&d=identicon&r=g' srcset='https://secure.gravatar.com/avatar/148fbfad48f09c57d1689f4e157c38e0?s=128&d=identicon&r=g 2x' class='avatar avatar-64 photo' height='64' width='64' loading='lazy' decoding='async'/> <div class="comment-author vcard"> <strong class="fn">John Aldridge</strong> <span class="says">says:</span> </div>  <div class="comment-metadata"> <a href="https://blog.turbotax.intuit.com/tax-planning-2/how-bonuses-are-taxed-calculator-15628/#comment-54696"> <time datetime="2013-11-18T09:33:48-08:00"> November 18, 2013 at 9:33 am </time> </a> </div>  </footer>  <div class="comment-content"> <p>I am 63 and thinking of retiring next year and have a small annuity ($20,000) which has been tax deferred. How will it affect my taxes if I withdraw it all to pay off a couple of bills so I will be debt free?</p> <div class="reply"> </div>  </div>  </div> </article> <ul class="children"> <li id="comment-55004" class="comment byuser comment-author-turbotaxlisa bypostauthor even depth-2"> <article id="div-comment-55004" class="comment-body"> <div class="comment-avatar"> <img alt='' src='https://secure.gravatar.com/avatar/48fda397defc01628230bf241d7559c5?s=128&d=identicon&r=g' srcset='https://secure.gravatar.com/avatar/48fda397defc01628230bf241d7559c5?s=256&d=identicon&r=g 2x' class='avatar avatar-128 photo' height='128' width='128' loading='lazy' decoding='async'/> </div> <div class="comment-inner"> <footer class="comment-meta"> <img alt='' src='https://secure.gravatar.com/avatar/48fda397defc01628230bf241d7559c5?s=64&d=identicon&r=g' srcset='https://secure.gravatar.com/avatar/48fda397defc01628230bf241d7559c5?s=128&d=identicon&r=g 2x' class='avatar avatar-64 photo' height='64' width='64' loading='lazy' decoding='async'/> <div class="comment-author vcard"> <strong class="fn">TurboTaxLisa</strong> <span class="says">says:</span> </div>  <div class="comment-metadata"> <a href="https://blog.turbotax.intuit.com/tax-planning-2/how-bonuses-are-taxed-calculator-15628/#comment-55004"> <time datetime="2013-11-25T13:50:41-08:00"> November 25, 2013 at 1:50 pm </time> </a> </div>  </footer>  <div class="comment-content"> <p>Hi John,<br /> You will be taxed on the amount withdrawn and it will be added to any other income. If your contributions to the plan were included in your gross income before, then part of the distributions may be excluded from income. Here is more information on the taxation of pensions and annuities<br /> <a href="http://www.irs.gov/taxtopics/tc411.html" rel="nofollow ugc" target="_blank">http://www.irs.gov/taxtopics/tc411.html</a><br /> Thank you,<br /> Lisa Greene-Lewis</p> <div class="reply"> </div>  </div>  </div> </article> </li> </ul> </li> <li id="comment-54553" class="comment odd alt thread-even depth-1"> <article id="div-comment-54553" class="comment-body"> <div class="comment-avatar"> <img alt='' src='https://secure.gravatar.com/avatar/0a538a36ba23fdce2d34522bac1855ab?s=128&d=identicon&r=g' srcset='https://secure.gravatar.com/avatar/0a538a36ba23fdce2d34522bac1855ab?s=256&d=identicon&r=g 2x' class='avatar avatar-128 photo' height='128' width='128' loading='lazy' decoding='async'/> </div> <div class="comment-inner"> <footer class="comment-meta"> <img alt='' src='https://secure.gravatar.com/avatar/0a538a36ba23fdce2d34522bac1855ab?s=64&d=identicon&r=g' srcset='https://secure.gravatar.com/avatar/0a538a36ba23fdce2d34522bac1855ab?s=128&d=identicon&r=g 2x' class='avatar avatar-64 photo' height='64' width='64' loading='lazy' decoding='async'/> <div class="comment-author vcard"> <strong class="fn">Tom Fitzpatrick</strong> <span class="says">says:</span> </div>  <div class="comment-metadata"> <a href="https://blog.turbotax.intuit.com/tax-planning-2/how-bonuses-are-taxed-calculator-15628/#comment-54553"> <time datetime="2013-11-15T03:51:37-08:00"> November 15, 2013 at 3:51 am </time> </a> </div>  </footer>  <div class="comment-content"> <p>Will I be able to claim my son this year? He moved to Florida in May</p> <div class="reply"> </div>  </div>  </div> </article> <ul class="children"> <li id="comment-55003" class="comment byuser comment-author-turbotaxlisa bypostauthor even depth-2"> <article id="div-comment-55003" class="comment-body"> <div class="comment-avatar"> <img alt='' src='https://secure.gravatar.com/avatar/48fda397defc01628230bf241d7559c5?s=128&d=identicon&r=g' srcset='https://secure.gravatar.com/avatar/48fda397defc01628230bf241d7559c5?s=256&d=identicon&r=g 2x' class='avatar avatar-128 photo' height='128' width='128' loading='lazy' decoding='async'/> </div> <div class="comment-inner"> <footer class="comment-meta"> <img alt='' src='https://secure.gravatar.com/avatar/48fda397defc01628230bf241d7559c5?s=64&d=identicon&r=g' srcset='https://secure.gravatar.com/avatar/48fda397defc01628230bf241d7559c5?s=128&d=identicon&r=g 2x' class='avatar avatar-64 photo' height='64' width='64' loading='lazy' decoding='async'/> <div class="comment-author vcard"> <strong class="fn">TurboTaxLisa</strong> <span class="says">says:</span> </div>  <div class="comment-metadata"> <a href="https://blog.turbotax.intuit.com/tax-planning-2/how-bonuses-are-taxed-calculator-15628/#comment-55003"> <time datetime="2013-11-25T13:24:33-08:00"> November 25, 2013 at 1:24 pm </time> </a> </div>  </footer>  <div class="comment-content"> <p>Hi Tom,<br /> Whether you can claim your son depends on a few key factors:<br /> -Age<br /> -Support<br /> -Residency<br /> -Relationship<br /> Please read more information here<br /> <a href="http://blog.turbotax.intuit.com/2013/11/22/who-qualifies-as-a-dependent-on-your-tax-return/" rel="ugc">http://blog.turbotax.intuit.com/2013/11/22/who-qualifies-as-a-dependent-on-your-tax-return/</a><br /> Thank you,<br /> Lisa Greene-Lewis</p> <div class="reply"> </div>  </div>  </div> </article> </li> </ul> </li> <li id="comment-54550" class="comment odd alt thread-odd thread-alt depth-1"> <article id="div-comment-54550" class="comment-body"> <div class="comment-avatar"> <img alt='' src='https://secure.gravatar.com/avatar/6a07a5bb87f15325cf6245539ddd8816?s=128&d=identicon&r=g' srcset='https://secure.gravatar.com/avatar/6a07a5bb87f15325cf6245539ddd8816?s=256&d=identicon&r=g 2x' class='avatar avatar-128 photo' height='128' width='128' loading='lazy' decoding='async'/> </div> <div class="comment-inner"> <footer class="comment-meta"> <img alt='' src='https://secure.gravatar.com/avatar/6a07a5bb87f15325cf6245539ddd8816?s=64&d=identicon&r=g' srcset='https://secure.gravatar.com/avatar/6a07a5bb87f15325cf6245539ddd8816?s=128&d=identicon&r=g 2x' class='avatar avatar-64 photo' height='64' width='64' loading='lazy' decoding='async'/> <div class="comment-author vcard"> <strong class="fn">Susan Rees</strong> <span class="says">says:</span> </div>  <div class="comment-metadata"> <a href="https://blog.turbotax.intuit.com/tax-planning-2/how-bonuses-are-taxed-calculator-15628/#comment-54550"> <time datetime="2013-11-15T01:45:30-08:00"> November 15, 2013 at 1:45 am </time> </a> </div>  </footer>  <div class="comment-content"> <p>We received a lease bonus check from Gas and Oil company of 60 thousand, does this just get added to our yearly income? How much tax would I expect to pay on $60.000, when our family only makes 30,000 a year with one dependent under age of 17, Thank you.</p> <div class="reply"> </div>  </div>  </div> </article> <ul class="children"> <li id="comment-55002" class="comment byuser comment-author-turbotaxlisa bypostauthor even depth-2"> <article id="div-comment-55002" class="comment-body"> <div class="comment-avatar"> <img alt='' src='https://secure.gravatar.com/avatar/48fda397defc01628230bf241d7559c5?s=128&d=identicon&r=g' srcset='https://secure.gravatar.com/avatar/48fda397defc01628230bf241d7559c5?s=256&d=identicon&r=g 2x' class='avatar avatar-128 photo' height='128' width='128' loading='lazy' decoding='async'/> </div> <div class="comment-inner"> <footer class="comment-meta"> <img alt='' src='https://secure.gravatar.com/avatar/48fda397defc01628230bf241d7559c5?s=64&d=identicon&r=g' srcset='https://secure.gravatar.com/avatar/48fda397defc01628230bf241d7559c5?s=128&d=identicon&r=g 2x' class='avatar avatar-64 photo' height='64' width='64' loading='lazy' decoding='async'/> <div class="comment-author vcard"> <strong class="fn">TurboTaxLisa</strong> <span class="says">says:</span> </div>  <div class="comment-metadata"> <a href="https://blog.turbotax.intuit.com/tax-planning-2/how-bonuses-are-taxed-calculator-15628/#comment-55002"> <time datetime="2013-11-25T13:19:07-08:00"> November 25, 2013 at 1:19 pm </time> </a> </div>  </footer>  <div class="comment-content"> <p>Hi Susan,<br /> Your lease bonus check would be added to your total yearly income. You should receive a 1099-misc. I don’t know all of your tax deductions to determine your taxable income, but you would be taxed at a higher tax rate based on both your regular income and the lease bonus income. Please see this article for 2013 tax rates<br /> <a href="https://turbotax.intuit.com/tax-tools/tax-tips/IRS-Tax-Return/2013-Federal-Tax-Rate-Schedules/INF12044.html" rel="nofollow ugc">https://turbotax.intuit.com/tax-tools/tax-tips/IRS-Tax-Return/2013-Federal-Tax-Rate-Schedules/INF12044.html</a><br /> Thank you,<br /> Lisa Greene-Lewis</p> <div class="reply"> </div>  </div>  </div> </article> </li> </ul> </li> <li id="comment-54532" class="comment odd alt thread-even depth-1"> <article id="div-comment-54532" class="comment-body"> <div class="comment-avatar"> <img alt='' src='https://secure.gravatar.com/avatar/7bc5f19f4469cf12def279f40d618b61?s=128&d=identicon&r=g' srcset='https://secure.gravatar.com/avatar/7bc5f19f4469cf12def279f40d618b61?s=256&d=identicon&r=g 2x' class='avatar avatar-128 photo' height='128' width='128' loading='lazy' decoding='async'/> </div> <div class="comment-inner"> <footer class="comment-meta"> <img alt='' src='https://secure.gravatar.com/avatar/7bc5f19f4469cf12def279f40d618b61?s=64&d=identicon&r=g' srcset='https://secure.gravatar.com/avatar/7bc5f19f4469cf12def279f40d618b61?s=128&d=identicon&r=g 2x' class='avatar avatar-64 photo' height='64' width='64' loading='lazy' decoding='async'/> <div class="comment-author vcard"> <strong class="fn">sharee pilgreen</strong> <span class="says">says:</span> </div>  <div class="comment-metadata"> <a href="https://blog.turbotax.intuit.com/tax-planning-2/how-bonuses-are-taxed-calculator-15628/#comment-54532"> <time datetime="2013-11-14T18:07:33-08:00"> November 14, 2013 at 6:07 pm </time> </a> </div>  </footer>  <div class="comment-content"> <p>Is this true?</p> <div class="reply"> </div>  </div>  </div> </article> </li> <li id="comment-54486" class="comment even thread-odd thread-alt depth-1"> <article id="div-comment-54486" class="comment-body"> <div class="comment-avatar"> <img alt='' src='https://secure.gravatar.com/avatar/484aa91a58747f4bd3334d1b925e5cf2?s=128&d=identicon&r=g' srcset='https://secure.gravatar.com/avatar/484aa91a58747f4bd3334d1b925e5cf2?s=256&d=identicon&r=g 2x' class='avatar avatar-128 photo' height='128' width='128' loading='lazy' decoding='async'/> </div> <div class="comment-inner"> <footer class="comment-meta"> <img alt='' src='https://secure.gravatar.com/avatar/484aa91a58747f4bd3334d1b925e5cf2?s=64&d=identicon&r=g' srcset='https://secure.gravatar.com/avatar/484aa91a58747f4bd3334d1b925e5cf2?s=128&d=identicon&r=g 2x' class='avatar avatar-64 photo' height='64' width='64' loading='lazy' decoding='async'/> <div class="comment-author vcard"> <strong class="fn">Trina</strong> <span class="says">says:</span> </div>  <div class="comment-metadata"> <a href="https://blog.turbotax.intuit.com/tax-planning-2/how-bonuses-are-taxed-calculator-15628/#comment-54486"> <time datetime="2013-11-14T13:25:52-08:00"> November 14, 2013 at 1:25 pm </time> </a> </div>  </footer>  <div class="comment-content"> <p>Would love to see a calculator for the opposite. Ie., you received regular monthly or quarterly bonuses. How much will you get back if your employer uses the aggregate method and your tax rate for each bonus period was significantly higher than your regular tax rate?</p> <div class="reply"> </div>  </div>  </div> </article> </li> <li id="comment-54406" class="comment odd alt thread-even depth-1"> <article id="div-comment-54406" class="comment-body"> <div class="comment-avatar"> <img alt='' src='https://secure.gravatar.com/avatar/2e79f022a0cfed7c6ec2ea8b0c52dabb?s=128&d=identicon&r=g' srcset='https://secure.gravatar.com/avatar/2e79f022a0cfed7c6ec2ea8b0c52dabb?s=256&d=identicon&r=g 2x' class='avatar avatar-128 photo' height='128' width='128' loading='lazy' decoding='async'/> </div> <div class="comment-inner"> <footer class="comment-meta"> <img alt='' src='https://secure.gravatar.com/avatar/2e79f022a0cfed7c6ec2ea8b0c52dabb?s=64&d=identicon&r=g' srcset='https://secure.gravatar.com/avatar/2e79f022a0cfed7c6ec2ea8b0c52dabb?s=128&d=identicon&r=g 2x' class='avatar avatar-64 photo' height='64' width='64' loading='lazy' decoding='async'/> <div class="comment-author vcard"> <strong class="fn">lori</strong> <span class="says">says:</span> </div>  <div class="comment-metadata"> <a href="https://blog.turbotax.intuit.com/tax-planning-2/how-bonuses-are-taxed-calculator-15628/#comment-54406"> <time datetime="2013-11-14T09:21:22-08:00"> November 14, 2013 at 9:21 am </time> </a> </div>  </footer>  <div class="comment-content"> <p>I get paid every 2 weeks</p> <div class="reply"> </div>  </div>  </div> </article> </li> <li id="comment-54405" class="comment even thread-odd thread-alt depth-1"> <article id="div-comment-54405" class="comment-body"> <div class="comment-avatar"> <img alt='' src='https://secure.gravatar.com/avatar/2e79f022a0cfed7c6ec2ea8b0c52dabb?s=128&d=identicon&r=g' srcset='https://secure.gravatar.com/avatar/2e79f022a0cfed7c6ec2ea8b0c52dabb?s=256&d=identicon&r=g 2x' class='avatar avatar-128 photo' height='128' width='128' loading='lazy' decoding='async'/> </div> <div class="comment-inner"> <footer class="comment-meta"> <img alt='' src='https://secure.gravatar.com/avatar/2e79f022a0cfed7c6ec2ea8b0c52dabb?s=64&d=identicon&r=g' srcset='https://secure.gravatar.com/avatar/2e79f022a0cfed7c6ec2ea8b0c52dabb?s=128&d=identicon&r=g 2x' class='avatar avatar-64 photo' height='64' width='64' loading='lazy' decoding='async'/> <div class="comment-author vcard"> <strong class="fn">lori</strong> <span class="says">says:</span> </div>  <div class="comment-metadata"> <a href="https://blog.turbotax.intuit.com/tax-planning-2/how-bonuses-are-taxed-calculator-15628/#comment-54405"> <time datetime="2013-11-14T09:20:57-08:00"> November 14, 2013 at 9:20 am </time> </a> </div>  </footer>  <div class="comment-content"> <p>?</p> <div class="reply"> </div>  </div>  </div> </article> </li> <li id="comment-54384" class="comment odd alt thread-even depth-1"> <article id="div-comment-54384" class="comment-body"> <div class="comment-avatar"> <img alt='' src='https://secure.gravatar.com/avatar/e0fe96d35d97c7c6830bb3d74cb8a6ba?s=128&d=identicon&r=g' srcset='https://secure.gravatar.com/avatar/e0fe96d35d97c7c6830bb3d74cb8a6ba?s=256&d=identicon&r=g 2x' class='avatar avatar-128 photo' height='128' width='128' loading='lazy' decoding='async'/> </div> <div class="comment-inner"> <footer class="comment-meta"> <img alt='' src='https://secure.gravatar.com/avatar/e0fe96d35d97c7c6830bb3d74cb8a6ba?s=64&d=identicon&r=g' srcset='https://secure.gravatar.com/avatar/e0fe96d35d97c7c6830bb3d74cb8a6ba?s=128&d=identicon&r=g 2x' class='avatar avatar-64 photo' height='64' width='64' loading='lazy' decoding='async'/> <div class="comment-author vcard"> <strong class="fn">Alison</strong> <span class="says">says:</span> </div>  <div class="comment-metadata"> <a href="https://blog.turbotax.intuit.com/tax-planning-2/how-bonuses-are-taxed-calculator-15628/#comment-54384"> <time datetime="2013-11-14T08:09:58-08:00"> November 14, 2013 at 8:09 am </time> </a> </div>  </footer>  <div class="comment-content"> <p>Way to go for perpetuating the myth that bonuses are taxed differently than regular income. The word you are looking for is “withheld,” not taxed.</p> <div class="reply"> </div>  </div>  </div> </article> <ul class="children"> <li id="comment-99127" class="comment even depth-2"> <article id="div-comment-99127" class="comment-body"> <div class="comment-avatar"> <img alt='' src='https://secure.gravatar.com/avatar/df7e688e49eefdfdee0595ac4de19b55?s=128&d=identicon&r=g' srcset='https://secure.gravatar.com/avatar/df7e688e49eefdfdee0595ac4de19b55?s=256&d=identicon&r=g 2x' class='avatar avatar-128 photo' height='128' width='128' loading='lazy' decoding='async'/> </div> <div class="comment-inner"> <footer class="comment-meta"> <img alt='' src='https://secure.gravatar.com/avatar/df7e688e49eefdfdee0595ac4de19b55?s=64&d=identicon&r=g' srcset='https://secure.gravatar.com/avatar/df7e688e49eefdfdee0595ac4de19b55?s=128&d=identicon&r=g 2x' class='avatar avatar-64 photo' height='64' width='64' loading='lazy' decoding='async'/> <div class="comment-author vcard"> <strong class="fn">Matt</strong> <span class="says">says:</span> </div>  <div class="comment-metadata"> <a href="https://blog.turbotax.intuit.com/tax-planning-2/how-bonuses-are-taxed-calculator-15628/#comment-99127"> <time datetime="2014-05-13T10:56:03-07:00"> May 13, 2014 at 10:56 am </time> </a> </div>  </footer>  <div class="comment-content"> <p>Great point Alison. Your Tax is the same with either method. The difference is just how much you owe or get in a refund at the end of the year. The Aggregate method is the best way for you to end up owing a small amount. This is the ideal situation for most people. </p> <p>It really is bad advice to suggest that the flat 25% is somehow good for people or might save them something.</p> <div class="reply"> </div>  </div>  </div> </article> </li> </ul> </li> </ol> <div class="navigation"> <div class="alignleft"></div> <div class="alignright"></div> </div> </div> <div class="rkv-related-content wp-block-group alignfull"> <div class="wp-block-group__inner-container"> <h2 class="has-text-color alignfull"> Browse Related Articles </h2> <div class="rkv-section__swiper swiper alignfull"> <div class="rkv-section__swiper-wrapper swiper-wrapper">  <div class="rkv-card rkv-card__article rkv-card__has-image rkv-card__has-image__vertical rkv-card__vertical rkv-card__has-gradient rkv-card__vertical rkv-card__column rkv-card__justify-end rkv-card__color-light "> <a href="https://blog.turbotax.intuit.com/income-and-investments/bonus-time-how-bonuses-are-taxed-and-treated-by-the-irs-8003/" class="rkv-card__link" aria-label="Are Bonuses Taxed? 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