News / Article

Taxes can be the Grinch that steals your bonus joy

Source: https://newsday.com/business/holiday-bonus-tax-1.15357852 - Dec 11, 2019

You’re daydreaming about what to do with the holiday bonus you hope to get.

I hate to wake you, but there are some strings attached — taxes. Here’s how the IRS might be the Grinch that stole Christmas.

Garrett Oakley, a financial expert with Betterment, an online financial adviser, explains that bonuses are considered “supplemental income,” meaning taxes could be withheld two ways.

click source to read article

Category: General Business