Is it better to take a signing bonus this year? Will that be less taxes since I am student and my income is 0

[shweta-ambwani14]

The other option is to take it next year with my first pay check, but they said the bonus will already be deducted.

[Critter-3]

Yes, take the bonus in 22 so it's taxed in 22 when your income is lower.

[xmasbaby0]

Remember-----if you have been a student then you can likely be claimed as a dependent on someone else's tax return.   If someone else can claim you then you will have to say on your own tax return (in My Info)  that you can be claimed as someone else's dependent.

[Mike9241]

with no other income, even as a dependent, since the sign-on bonus would be earned income, there would be no federal income taxes unless the amount exceeded about $14,000. medicare and social security taxes would still apply and be taken out. there could also be state income taxes. nut still taking it in 2022 will be cheaper than 2023 when you'll be getting a regular paycheck.