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Remember the taxes you pay at the end are based on total income the bonus is taxed at this same rate. So if your effective tax rate is 20% you will get this money in your refund. To be clear bonuses are not taxed at a special rate.
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Sure it may be taxed at 20% come year end, but it is still withheld at 38% for those who claim 0 or 1.Originally Posted by vilcas
Remember the taxes you pay at the end are based on total income the bonus is taxed at this same rate. So if your effective tax rate is 20% you will get this money in your refund. To be clear bonuses are not taxed at a special rate.
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I've never seen it green once it opens back up. Your best bet is to keep an eye on it as the month goes on and more new hires hit the line.Originally Posted by Slaveaway
Is the reserve grid typically green once flica opens for june ?
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They were about 5 months ago, however now we are short staffed so everything is red. I think it's a combination of excessive reserves numbers, and covering other airlines flying. Green is gonzoOriginally Posted by Slaveaway
Is the reserve grid typically green once flica opens for june ?
Bonuses are taxed at a flat 25% for Federal. If your EOY effective tax rate is 10%, you will get back 15% of the gross bonus.
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Originally Posted by vilcas
Remember the taxes you pay at the end are based on total income the bonus is taxed at this same rate. So if your effective tax rate is 20% you will get this money in your refund. To be clear bonuses are not taxed at a special rate.
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The federal tax rate for a single person making $36,750-$91,150, your federal tax rate is estimated at 25%. There are obviously deductions and other considerations, plus state/local taxes.Originally Posted by HighFlight
Bonuses are taxed at a flat 25% for Federal. If your EOY effective tax rate is 10%, you will get back 15% of the gross bonus.
You may very well be taxed at 38% depending on your income and deductions. If local and state taxes are high, 38% is certainly a reality.
Nantonaku
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Then don't claim a 0 or 1. That simple really, you can have your cake and not wait till the end of the year to eat it too. Not sure why this is such a difficult concept for so many people to understand, the IRS even has a calculator to help you figure it out. What you pay throughout the year in normal pay roll taxes can be drastically reduced because of the tax taken out on the bonus.Originally Posted by Edgecrusher28
Sure it may be taxed at 20% come year end, but it is still withheld at 38% for those who claim 0 or 1.
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Math is hard.Originally Posted by Nantonaku
Then don't claim a 0 or 1. That simple really, you can have your cake and not wait till the end of the year to eat it too. Not sure why this is such a difficult concept for so many people to understand, the IRS even has a calculator to help you figure it out. What you pay throughout the year in normal pay roll taxes can be drastically reduced because of the tax taken out on the bonus.
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