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Target doubles bonuses for salaried employees as profits surge
(www.nbcnews.com)
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this post was submitted on 25 Mar 2024
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I'm sorry, but you are 100% incorrect.
Source: Bonus check getter for 30+ years.
https://turbotax.intuit.com/tax-tips/jobs-and-career/how-bonuses-are-taxed/amp/L7UjtAZbh
https://www.kiplinger.com/taxes/how-a-bonus-is-taxed
https://www.cnbc.com/2023/12/27/does-the-tax-on-your-year-end-bonus-check-seem-high-heres-why.html
Bonuses are initially taxed higher, but during tax time you get that money back.
Mate the cnbc link you sent says they just initially withhold more tax but you will get it back in tax returns. So yea immediate money is lower but in the end it evens up.
It evens out... a year later. That doesn't change the fact that your $1000 bonus check is $400 to $600.
I guess you didn’t spend that time reading articles before you link them. They all contradict you by the way. Key point is that “withholding rate” is not the same as “tax rate”.
Bonuses are 100% taxed the same as the rest of your wages.