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ashleyeaglesno1
New Member

Shouldn't I get most of the taxes taken out of my bonus back?

 
1 Best answer

Accepted Solutions
WillK
Level 9

Shouldn't I get most of the taxes taken out of my bonus back?

It all depends on a number of factors: What your tax rate, how many deductions/credits you are eligible for and their amounts, your total income from the year.

Bonus money is taxed just like regular wages, and are figured into your entire income for the year. The amount of taxes you owe depend on all those factors above. One thing to keep in mind, the more money you make, generally the more in taxes you owe, 

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2 Replies
SweetieJean
Level 15

Shouldn't I get most of the taxes taken out of my bonus back?

Why would you expect to? A bonus is taxable.
WillK
Level 9

Shouldn't I get most of the taxes taken out of my bonus back?

It all depends on a number of factors: What your tax rate, how many deductions/credits you are eligible for and their amounts, your total income from the year.

Bonus money is taxed just like regular wages, and are figured into your entire income for the year. The amount of taxes you owe depend on all those factors above. One thing to keep in mind, the more money you make, generally the more in taxes you owe, 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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