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New Member
posted Jun 6, 2019 8:25:56 AM

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

0 2 233
1 Best answer
Intuit Alumni
Jun 6, 2019 8:25:59 AM

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, 

2 Replies
Level 15
Jun 6, 2019 8:25:58 AM

Why would you expect to? A bonus is taxable.

Intuit Alumni
Jun 6, 2019 8:25:59 AM

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,