Stupid Question: Will my signing bonus be taxed
I seriously need to pay off this student debt its killing me, a nice 15k signing bonus would be fucking awesome but NYC is gonna fuck me over I feel
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Yes. Exorbitantly.
Can confirm from experience.NYC, I lost about 48% of my signing/relocation bonus to taxes.
Edit: -Added "to taxes"
Yes, will be taxed heavily. Mine in NYC was ~8k net
Tax and death baby
Why do people always omit the fact that you'll likely get a good amount back as a tax refund?
Tax withholding =/= taxes owed and most financial firms overwithhold.
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