A Visual Guide to Taxing Bonuses [Infographic]

Read the Article

With end of year tax planning on everyone’s agenda, those that are lucky enough to get a bonus this year are wondering,  “How bonuses are taxed?”.  Since this a common question we are seeing at this time, we thought it would be helpful to show how bonuses are taxed in an infographic.

[tt_share_code url=”http://images.blog.turbotax.intuit.com/swf/Turbotax-Bonus-Time.png” width=”580″ height=”2301″ title=”Turbotax-Bonus-Time” alt=”Turbotax-Bonus-Time”]

4 responses to “A Visual Guide to Taxing Bonuses [Infographic]”

  1. Is the supplemental wage amount itemized & reported to the IRS separately from regular wages? If not, then this makes absolutely no difference which method your employer uses in the end – as long as you don’t mind giving uncle sam a temporary interest free loan, but It will all even out with your tax return. Someone please confirm that this is true.

  2. Just concerned about why bonus is taxed- not clear whether bonus is supposed to be taxed. if you receive your bonus not taxed, will it affect your monthly income tax

Leave a Reply