@cahmay14 - the other option is let the two paychecks settle in, see how much was withheld for that bonus and then beginning with the 3rd paycheck, adjust the withholdings for the rest of the year. if your analysis is that you are going to be due a large refund comes April 15, this method 'drips in' the lower withholdings each pay period so the refund comes next April 15 is rather small. Or alternatively, go the other way if you believe you are underwithheld.
But if the employer does the 22% withholding and your tax bracket is close to that then it could be a wash.
