Taxes On Your Bonus
Include these in your income:
- Bonuses and awards from your employer reported on your W-2
- Vacation trips you receive for going beyond sales goals
Usually, your employer will withhold taxes from bonuses you receive at the flat rate of 25%. However, if you earned more than $1 million a year, the withholding rate will be 39.6% on the amount over $1 million.
What are stock splits? Learn more about stock splits and their cost basis from the tax experts at H&R Block.
What is the cost basis of stock and other investments? Learn more about calculating the basis and get tax answers from H&R Block.
Learn how making an IRA withdraw less than your contributions will impact your tax return with advice from the tax experts at H&R Block.
Do capital gains apply to garage sale money? The answer depends on a number of factors. Learn more at H&R Block.