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Tax Question  
User currently offlineSTT757 From United States of America, joined Mar 2000, 16689 posts, RR: 51
Posted (5 years 7 months 3 days 11 hours ago) and read 1114 times:

I might be getting a $10,000 cash bonus, how much will I really get after taxes?..

Thanks in advance, I'm not good with numbers.


Eastern Air lines flt # 701, EWR-MCO Boeing 757
5 replies: All unread, jump to last
 
User currently offlineFr8mech From United States of America, joined Sep 2005, 5095 posts, RR: 12
Reply 1, posted (5 years 7 months 3 days 10 hours ago) and read 1101 times:

What's you tax status? What's your normal income? What state do you live in?

Lots of questions, but I suspect you'll get somewhere between $6,000 and $7,000.



When seconds count...the police are minutes away. Never leave your cave without your club.
User currently offlineThreeIfByAir From United States of America, joined Aug 2007, 649 posts, RR: 0
Reply 2, posted (5 years 7 months 3 days 9 hours ago) and read 1086 times:

I've received some accrued vacation lump sum cashouts from old jobs. In both cases, the federal income tax was a flat 25%. I didn't have any state income tax since WA doesn't have one.

Based on my experiences, I doubt you'd see more than $7500, probably less.


User currently offlineWunalaYann From Australia, joined Mar 2005, 2839 posts, RR: 26
Reply 3, posted (5 years 7 months 3 days 9 hours ago) and read 1081 times:

If ME AVN FAN was around he would tell you that all you need to do is wire your money to a numbered account in that great democracy called Liechtenstein and you need not worry about taxes.

 Smile


User currently offlineLAXintl From United States of America, joined May 2000, 24312 posts, RR: 47
Reply 4, posted (5 years 7 months 3 days 8 hours ago) and read 1069 times:

Use this aggregate bonus calculator.

http://www.paycheckcity.com/coAmCheck/agbonusCalculator.asp

Be advised such bonus payments are subject to different tax rules then normal payroll rates. You can net as little as 45-50% of the bonus when all said and done depending on your tax specifics.



From the desert to the sea, to all of Southern California
User currently offlineCumulus From United Kingdom, joined Aug 2006, 1402 posts, RR: 1
Reply 5, posted (5 years 7 months 3 days 5 hours ago) and read 1054 times:



Quoting STT757 (Thread starter):
I might be getting a $10,000 cash bonus, how much will I really get after taxes?..

If it's cash, just stick it under the bed and tell nobody!



What Goes Up Must Come Down, Hopefully In One Piece!
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