Income and Investments A Visual Guide to Taxing Bonuses [Infographic] Read the Article Open Share Drawer Share this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Pinterest (Opens in new window)Click to print (Opens in new window) Written by Published Dec 19, 2012 - [Updated Jul 11, 2019] 0 min read With end of year tax planning on everyone’s agenda, those that are lucky enough to get a bonus this year are wondering, “How bonuses are taxed?”. Since this a common question we are seeing at this time, we thought it would be helpful to show how bonuses are taxed in an infographic. [tt_share_code url=”http://images.blog.turbotax.intuit.com/swf/Turbotax-Bonus-Time.png” width=”580″ height=”2301″ title=”Turbotax-Bonus-Time” alt=”Turbotax-Bonus-Time”] Previous Post A Stream of Revenue: A Breakdown of Sources of Personal… Next Post A Look at 6 Common 1099 Forms Written by More from 4 responses to “A Visual Guide to Taxing Bonuses [Infographic]” Is the supplemental wage amount itemized & reported to the IRS separately from regular wages? If not, then this makes absolutely no difference which method your employer uses in the end – as long as you don’t mind giving uncle sam a temporary interest free loan, but It will all even out with your tax return. Someone please confirm that this is true. Reply How long is it taking to get refund in my bank account after efile on 1st day accepted on 1/31/14 ? Reply Hi Connie, Please see more information regarding the IRS refund process here http://blog-turbotax-intuit-com-develop.go-vip.co/2014/01/31/wheres-my-tax-refund/ Thank you, Lisa Greene-Lewis Reply Just concerned about why bonus is taxed- not clear whether bonus is supposed to be taxed. if you receive your bonus not taxed, will it affect your monthly income tax Reply Leave a ReplyCancel reply Browse Related Articles Tax News Intuit TurboTax April Report: A Look at Refunds and S… Tax Planning April 15 is the Tax Deadline: 6 Things You Need to Know… Tax Planning Unable to Pay Your Tax Bill? Here’s What To Do Tax Tips Tax Credits 101: What They Are & How They Work Business How to Know if You Should Invest in Business Insurance Tax Deductions and Credits What Is the Standard Tax Deduction for 2023 – 202… 401K, IRA, Stocks Should You Use Your 401(k) or Retirement to Pay Off Deb… Tax Planning What Happens If You Don’t Pay Taxes? Understanding Pe… Tax Deductions and Credits Family Taxes: Take Advantage of Tax Savings Taxes 101 How Much Do You Have to Make to File Taxes? Demystifyin…
Is the supplemental wage amount itemized & reported to the IRS separately from regular wages? If not, then this makes absolutely no difference which method your employer uses in the end – as long as you don’t mind giving uncle sam a temporary interest free loan, but It will all even out with your tax return. Someone please confirm that this is true. Reply
How long is it taking to get refund in my bank account after efile on 1st day accepted on 1/31/14 ? Reply
Hi Connie, Please see more information regarding the IRS refund process here http://blog-turbotax-intuit-com-develop.go-vip.co/2014/01/31/wheres-my-tax-refund/ Thank you, Lisa Greene-Lewis Reply
Just concerned about why bonus is taxed- not clear whether bonus is supposed to be taxed. if you receive your bonus not taxed, will it affect your monthly income tax Reply