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%;

401k 5%,

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!!>

1 Comments
 

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