Tax breakdown for bonus income
Say the bonus is 00 and 00 are set for a 401k (pre-tax) deduction. Here's the tax breakdown. Does this look right? Shouldn't the taxes be calculated on the 00? (00 minus 00 due to pre-tax 401k contribution)
(1)1 Comments
Sorted by latest first Latest Oldest Best
Social security and medicare taxes are still levied on 401k contributions at a total of 7.65%. Looking at your table, (6 + 6)/,000 = 7.65%.
Federal taxes were 22% of ,200 (0.22 x 00 = 4) which is inline with IRS rules, as pointed out by users in the comments. State taxes look like they are levied on the ,200 as you expected. But, you can look up the corresponding rates and check the numbers to be sure.
Terms of Use Privacy policy Contact About Cancellation policy © freshhoot.com2026 All Rights reserved.