The 3% payment came in a separate line on the paystub. Does anyone knows if will be on the W2 as Bonus. Because if so it will be a different TAX application
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I'll take it and splurge on a fun weekend.
The bonus is withheld at 22% if you make less than $1M per year base salary. At YE it is ordinary income so you will need to check vs standard tax bracket. For instance if you are normally in 24% tax bracket then you will have an additional 2% tax liability. Hope this helps! Don’t spend it all in one place. Looks like that could happen at the grocery store though. 😬
More like 2% after taxes take out. This was an attempt at doing the bare minimum to appease us. The exxodus will continue
Bonuses are taxed as ordinary income at the end of yhe year when you file your taxes. When a bonus is paid, the company can withhold 22% if it's under a million dollars, 37% if over a million, or it can be added up with your regular pay and be withheld at whatever percentage that is.