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Avalon Sparks

(2,686 posts)

12. Strange

Reply to madinmaryland (Reply #10)

Fri Feb 7, 2025, 12:23 AM

Feb 7

Both hub and I receive annual bonuses from commercial companies and the amount withheld is around 30%. For Wages its around 20%.

I think it might also depend on the company.

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Highlight:

Scoop: Trump lays out tax priorities to House GOP [View all] BumRushDaShow Feb 6 OP

"also includes the closure of some loopholes typically used by the wealthy" durablend Feb 6 #1

This isn't going to happen. JBTaurus83 Feb 6 #2

Are year end bonuses considered a "tip"‽ dem4decades Feb 6 #5

No. Just part of your wages. madinmaryland Feb 6 #7

Bonuses are taxed higher than wages. Avalon Sparks Feb 6 #9

Not that I have seen... madinmaryland Feb 6 #10

Strange Avalon Sparks Feb 7 #12

Bonuses if they arrive near year's end are taxed at the higher tax bracket Xipe Totec Feb 7 #16

Agree so hard...I'm even more annoyed by "No Taxes on Overtime," which is even less justifiable Prairie Gates Feb 7 #18

I'm going to ask my employer to just tip me every two weeks chicoescuela Feb 6 #3

I once worked as an elephant circumciser at the zoo. LastLiberal in PalmSprings Feb 6 #11

Ugh chicoescuela Feb 7 #14

Hahaha...I imagine there will be some sort of cap on the amount that is tax exempt.. nt Blasphemer Feb 7 #13

Ending taxes on tips & overtime and on social security benefits ARE HUGE CUTS TO SOCIAL SECURITY. CousinIT Feb 6 #4

Exactly JBTaurus83 Feb 6 #6

Well this needs to be said Puppyjive Feb 6 #8

100% true chicoescuela Feb 7 #15

? Rainman4u2C Feb 7 #19

Social Security IS federally taxable for "income" (depending on how much it is) BumRushDaShow Feb 7 #20

Trump wasn't even there Prairie Gates Feb 7 #17