Signing bonus tax
How is signing bonus taxed? Is the amount in the letter what actually gets deposited in your account or is it a post-tax number?
Trying to get a sense of how much liquidity I’ll have going into the job / managing rent.
Thanks!
Any number for salary or bonus on your letter is pre tax. The gov usually takes around 40-50 percent for tax, so keep that mental number in your head. Since you are an intern, you will receive some of it back in your tax return next year, but you are stuck with the lower amount for now
My apologies — intern is last year title. Incoming FT analyst now. So the number I’ll get is roughly 50% of what the document says. So if it says 10K, I’ll get about 5K in my account?
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