"Herb Smith" <smithff33[at]aol.com> wrote:
- quote -

I already factored that in. My state only jumps up 5% but
the federal goes from 19% of the gross to 31%. I have a
meeting with payroll on Monday to help me get it to even...
I don't care much for a tax return, I just want to get it as
close as possible without having to pay (or just pay a
little). I'll do my saving on my own.

Thanks for the answers, though.

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"A.G. Kalman" <glendale202-mtm[at]yahoo.com> wrote:
- quote -

Sorry. Fed, state, ssi, medicare. That's it as of now.

- quote -

I am going to soon because I am awfully confused about this.

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trendonite[at]gmail.com (bPstyles) wrote:

- quote -

Don't forget that they are also withholding STATE income
taxes and SS/Medicare taxes (7.45%) on that bonus income.
Under that scenario, 40+% is not unrealistic.

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Pstyles wrote:

- quote -

Two people can answer this question for you.
1. Yourself by looking at your pay stub as we have no idea
what items other than income tax or social security you are
having withheld (e.g., insurance, pension, etc.).

2. Your employer's payroll department.

--
Alan
http://taxtopics.net

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I was sifting through Google Groups and I found this answer
to my question. I am single, living in a NY suburb (no city
tax) and I am getting brutalized every month on my bonus
check. I am losing about 44% on my bonus pay (from $3000 to
$1700) and I am not happy about it. My issue is I don't
know the next thing about this sort of stuff, which is why I
am asking.

I could care less about what money I get back in my return
(I just want to make it so I either don't have to pay or get
very little back) and I was expecting this monthly check to
be around 22-2300, not 1700.

I was looking at the answer below and I am unsure about what
i should tell my employer. Thank you for any advice.

- quote -

Yes, you'll get any overpaid tax back when you file your
return.. There are optional methods for withholding from
supplemental income but what your employer likely did was to
do it the easy way and withheld a flat 28% (without regard
to exemptions or regular payment of wages). The 28% figure
is the one used prior to changes made in the new tax laws.

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