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Apr 16, 2024
10:41:14pm
NanoFab Coug Political Junky
Bonuses are withheld at a fixed rate (~40%), W-4 is irrelevant
What claiming 99 will do (did do?) is reduce your taxes on your income (regular paychecks) so you get the bonus paid out over the year in small amounts.

If you're changing jobs, and expecting a bump upwards in pay, just be sure to withhold your tax liability for the previous year, so that if you end up owing on next years' tax filing you won't have to pay the penalty for underwithholding and you should be good.

That said, the TCJA did away with exemptions and changed the W-4 dramatically. Are you sure you're current on the latest W-4 questions?
This message has been modified
Originally posted on Apr 16, 2024 at 10:41:14pm
Message modified by NanoFab Coug on Apr 16, 2024 at 10:41:52pm
NanoFab Coug
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bdoggy
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NanoFab Coug
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Apr 30, 2007
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Apr 29, 2024
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35,660 (5,560 FO)