A community of 30,000 US Transcriptionist serving Medical Transcription Industry

Beware N bonus winners. Coming to light on MModa board, - award winners pay for their own award.SM

Posted: May 15, 2013

You might want to check your paychecks and make sure you dont have any mystery deductions being applied to your paycheck.

Because of my deductions, I RARELY get - Federal Withholding

[ In Reply To ..]
deducted from my REGULAR checks. Guess what? It WAS deducted from my teensy weensy bonus check!! 1/4 of my bonus check went to federal withholding tax. I used to do payroll for YEARS and somebody in payroll sure doesn't have A CLUE! how to add in bonus checks with income, divid between pay periods and figure tax for a special check. Ridiculous!

Same thing happened to me on the bonus - MT

[ In Reply To ..]
They took out as much as if I were expected to earn 50K a year. It was ridiculous and I do not understand why they do this.

The bonus is tied to your pay so of course you - will pay taxes on it.

[ In Reply To ..]
understand what you read before you yell fire.

The feds tax bonuses at 40% - sm

[ In Reply To ..]
I wouldn't blame this one on Nuance, though I'd like to. It's not them. It's the feds.

Are you sure about that, even with our income levels? - hard to believe

[ In Reply To ..]
If this is true, this is a very powerful reason why it is a good idea to forget about chasing the bonuses! Totally not worth the time spent getting mistakes reversed!

I found this calculator - SM

[ In Reply To ..]
See the link. When I calculated it for my state, it was 25% to the feds and the rest was medicare, my state, soc security, etc. It amounted to about 42% of the bonus amount taxed.

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