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Dec 11, 2024
2:21
:18
pm
BYUFootballisBack
Truly Addicted User
Sounds correct, but it is dependent on whether his withholdings were correct, if
he underpaid on the other $11k taxable for the year then his $500 refund would be lower as he would owe some for the amount he didn't pay
This message has been modified
Originally posted on Dec 11, 2024 at 2:21:18pm
Message modified by BYUFootballisBack on Dec 11, 2024 at 2:23:23pm
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BYUFootballisBack
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oddsewer
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BYUFootballisBack
Joined
Apr 29, 2007
Last login
Dec 11, 2024
Total posts
16,928 (731 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
Cougar Junkie
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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