I'm a fulltime W-2 wage earner with no side businesses, real estate or other write offs. I usually receive a tax return refund of about $1,500, give or take.
I'm going to be receiving a bonus in the next couple days, and my boss has asked if I'd rather take the bonus without the taxes taken out and deal with them myself. Or, I can receive the bonus with taxes already taken out.
Last year, I received the bonus with taxes taken out, so I only received $5,700 out of my $10,000 bonus.
I'm thinking this year will be at least $10k, possibly more, so maybe I should take the money up front and figure out how to deal with the taxes later?
Has anyone ever dealt with this before?
(sorry if this is a slowlane topic)
I'm going to be receiving a bonus in the next couple days, and my boss has asked if I'd rather take the bonus without the taxes taken out and deal with them myself. Or, I can receive the bonus with taxes already taken out.
Last year, I received the bonus with taxes taken out, so I only received $5,700 out of my $10,000 bonus.
I'm thinking this year will be at least $10k, possibly more, so maybe I should take the money up front and figure out how to deal with the taxes later?
Has anyone ever dealt with this before?
(sorry if this is a slowlane topic)
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