At the end of the year a bonus is just regular income, yeah they take more out of them but if your overall income is down dramatically you will get some of that back at the end of the year.I guess I can add I got a bonus at work (not really a bonus, it's more of a loan, as I will have to pay it back next year), which you would think is a good thing, right?
Well, the problem is, with a bonus, they killed me on taxes. I mean KILLED me. I don't even want to say how much they took out, but it was over 40% altogether. FECK. So, basically the bonus will allow me to pay a few back bills, but about 80% of what I get has to just go into savings to offset the loss I'll be taking for 11 months starting in April.
Uncle Sam got a monstrous chunk of cash. I'm hoping I'll get some of that back at tax time, but I just don't know at this point. It's impossible to predict.