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Bonus Checks and Taxes
October 15, 2007
5:47 pm
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on my way
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Can someone please explkain to me in plain english, if it is possible to have NO Tax taken out of bonuse checks? Or do you know what the tax rules are for bonus checks? By the time taxes are taken out, there is nothing left. My 401K was even taken out of my bonus check....,does not seem right?

thanks,
omw

October 15, 2007
8:36 pm
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thewall
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yep, unfortunately I have researched and dealt with this issue as well. Bonus checks are considered income and all income is taxed so there is no way around that. Doesnt seem fair, I know.

But I think if you dont want your 401 money taken out of your bonus checks you can arrange that with your HR. However, it could become a nitemare of paperwork and confusion bc sometimes HR does not know which check is bonus and which is a paycheck. Perhaps you could arrange for 3 out of 4 checks contribute to your 401k each month. That way you have a little something extra, if you need it. ?? Talk to HR for your options.

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