Old 03-24-2017, 11:31 AM
  #8  
Bellanca
Gets Weekends Off
 
Joined APC: Oct 2009
Position: CFI/II/MEI
Posts: 481
Default

Originally Posted by iScooter View Post
No, they are not. Bonuses are treated exactly the same as other regular wages from a tax perspective (at the end of the year when you do your taxes).

Edit: Heh, sorry, guess I should read first...several other posts already pointed this out.

Yes and no. For example, if you get a 10k bonus added into one of your twice monthly paychecks, it's going to look to the tax tables like you are clearing $250k+ per year. So it will be taxed accordingly in much higher tax bracket. But when you go to file your taxes that's when you'll get a refund for having too much withheld. And the government gets to use your money interest free for up to a year....
...

As for the OP,

My first year I made just over $30k, no bonus, 60 hour guarantee training pay, $24/hour for the first 8 months, then $35/hour when we got the "new" first year pay.

Someone else said 1000x hourly rate is a good estimate. So $36k in basic salary at my company + $22k in bonus money realistically puts you at $58,000. They all add in per diem into these income figures and that's easily another $500/month, $6k per year. (Not really income, but money in your pocket). Pick up a few trips in open time at premium pay and $65,000 is somewhat realistic with the per diem added in.
Bellanca is offline