I think supplemental income is only treated different by its withholding rate

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Dec 11, 2024
2:17:01pm

ForzaPuma All-American

I think supplemental income is only treated different by its withholding rate

So a bonus would have taxes withheld at 22%, but the actual amount paid at year end will depend on your marginal rate.

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ForzaPuma

Previous username: chaden02
Bio page: ForzaPuma
Joined: Feb 11, 2011
Last login: Dec 11, 2024
Total posts: 5,289 (72 FO)

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Messages

Author

Time

Does supplemental income affect my marginal tax rate?

zuko

2:09pm

Bonuses are withheld at 22%. They’re taxed as ordinary income.

allaboutthegainz

2:13pm

So then tell me if this is right:

zuko

2:20pm

Sounds correct, but it is dependent on whether his withholdings were correct, if

BYUFootballisBack

2:21pm

Board name checks out

2:36pm

I think supplemental income is only treated different by its withholding rate

ForzaPuma

2:17pm

This is correct.

TheSpiker

3:17pm

Not a CPA, but still confident enough to answer in a way that is hopefully easy

TheNerd

2:56pm

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