TomK2023
Expert Alumni

Get your taxes done using TurboTax

We do not have access to your tax return; we can not see your unique inputs.  With that in mind:

 

  • If your employer issues you a stand-alone bonus check, your bonus will be subject to the 22% withholding flat rate if it is $1 million or less for 2022.
  • Bonuses can be subject to state income taxes as well. These tax rates vary by state.
  • You may have to pay the 1.45% Medicare tax on your bonus plus the 6.2% Social Security tax on the amount of your wages, including your bonus, that is below the $147,000 Social Security cap (tax year 2022).
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