Work Bonus Tax Tips

Tax Planning

Bonus Tax Calculator (How to Calculate Bonus Paychecks)

August 24, 2021 / TurboTaxLisa

If you received a bonus or are expecting one this year you may want to understand how taxes are withheld from your bonus when you receive it. Check out our bonus calculator that answers one of our most frequently asked questions and find out how your bonus will be taxed.

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Tax Planning

Holiday Bonus Season: How Your Holiday Bonus is Taxed

December 31, 2020 (Last Modified: February 4, 2021) / Ginita Wall, CPA, CFP®

December is a time for giving gifts, and some employers give year-end bonuses to their employees to show gratitude for a year of faithful service. If your employer has promised you a bonus, you’re likely already thinking of all the...

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Self-Employed

How Holiday Bonuses are Taxed for Contract Workers

November 17, 2017 (Last Modified: July 11, 2019) / Ginita Wall, CPA, CFP®

The article below is up to date based on the latest tax laws. It is accurate for your 2017 taxes, which you will file by the April 2018 deadline. Learn more about tax reform here. Are you expecting a year-end bonus...

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Income and Investments

Bonus Time: How Bonuses Are Taxed and Treated by the IRS

November 9, 2017 (Last Modified: July 8, 2019) / asbbaines

Bonuses can change your tax situation depending how large the bonus and what methods employers use to tax the income. Find out how bonuses(supplemental income) are taxed.

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Income and Investments

What Is Supplemental Income? (Meaning & Definition)

July 24, 2017 (Last Modified: November 17, 2020) / Ginita Wall, CPA, CFP®

Are you in line for a bonus at work? Lucky you! But don’t count on the entire bonus amount appearing in your paycheck. We all know that federal taxes will be taken out for part of your bonus, and your...

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Income and Investments

Bonus Round: 5 Tips for Your Work Bonus

December 16, 2014 (Last Modified: July 8, 2019) / Ginita Wall, CPA, CFP®

Lucky you! You just found out you are getting a nice year-end bonus soon. Before you start celebrating your good fortune, here are five things you should know. Taxes. Don’t expect to get a check for the full amount of...

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Income and Investments

A Visual Guide to Taxing Bonuses [Infographic]

December 19, 2012 (Last Modified: July 11, 2019)

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.

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Tax Tips

The Tax Implications of Receiving a Holiday Bonus

December 15, 2010 (Last Modified: July 11, 2019) / Philip Taylor

The holidays are a time to give and receive. If you are lucky enough to be receiving a nice company bonus this year, let me be the first to congratulate you. Your hard work has paid off. But since you were awarded a bonus, there are a few things you should know with regard to your taxes.

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Bonus Tax Calculator (How to Calculate Bonus Paychecks)

Holiday Bonus Season: How Your Holiday Bonus is Taxed

How Holiday Bonuses are Taxed for Contract Workers

Bonus Time: How Bonuses Are Taxed and Treated by the IRS

What Is Supplemental Income? (Meaning & Definition)

Bonus Round: 5 Tips for Your Work Bonus

A Visual Guide to Taxing Bonuses [Infographic]

The Tax Implications of Receiving a Holiday Bonus

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