What % did you take home from your bonus
By now, those who would get a bonus have received the bonus
Starting a thread to discuss taxes - NYC specific
Living in NYC, got a nice bonus, $x00,000.00 (Super excited)!! BUT I just got paid yesterday and the amount I got blew my mind!!!! I got 38%! I was like .... what the heck!
more details: working/living in NYC, single, no dependant, the standard deduction. and didn't do anything related to the tax withholding/W4, or whatever.
38% is just ... doesn't make sense.
Googled, and said 22% flat federal income tax withholding for bonus <$1m (mine is way under),
NYC call it 4% and NYS 6%, call it NYC+NYS = 10%~11%;
Medicare/Social security: 7.65%
All the above, add up to: 22% Fed + 11% NYS/NYC + 4% 401k+7.65% Med/SS =44.65%, round it up to 45% or even round it further up to 50%, I'm way below taking home half of my bonus!!!
Any comments/suggestings?/or this is how much you guys take home as well!!>