For the tax year 2022, my wife is about to receive a $20K sign on bonus.
From bonuses in the past i recognize a large amount is taken out up front. I suspect this employer will do the same.
I read they either go off of your own tax rate.. or go at a flat rate (22-35%)..
My question is when I file my taxes for 2022- does my "income" categorize the bonus any different or is it all just income? In other words if they take out 30% and we pay $6500- could it off set my taxes paid ratio.. and probably set us up for a refund?
I'm not asking will I get a refund- but does the bonus taxes withheld all go into the same "pool" for all income and tax purposes and no matter how they withhold the bonus up front- it will all get calculated the same whether it was a bonus of 20K or just more income of 20K.
Thx.