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Tax Question  
User currently offlineSTT757 From United States of America, joined Mar 2000, 16870 posts, RR: 51
Posted (6 years 4 days ago) and read 1155 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, 5453 posts, RR: 14
Reply 1, posted (6 years 3 days 23 hours ago) and read 1142 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.
User currently offlineThreeIfByAir From United States of America, joined Aug 2007, 676 posts, RR: 1
Reply 2, posted (6 years 3 days 22 hours ago) and read 1127 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: 25
Reply 3, posted (6 years 3 days 22 hours ago) and read 1122 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, 25392 posts, RR: 49
Reply 4, posted (6 years 3 days 21 hours ago) and read 1110 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 (6 years 3 days 18 hours ago) and read 1095 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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