galaxyno bonus

The percentage method\n\n Your total bonuses for the year get taxed at a 22% flat rate if they're underR$1 million. If your total bonuses are higher thanR$1 million, the firstR$1 million gets taxed at 22%, and every dollar over that gets taxed at 37%.

Why is tax withholding on bonuses so high? Since bonuses are paid in addition to your normal paycheck, taxes are withheld at a higher rate than your regular wages. This is because they are considered supplemental income.

An annual bonus of 5-10% of your yearly salary is standard in a lot of industries, just as a 5-10% annual raise is considered standard. However, if you work on commission, you may see a significantly higher percentage. Your industry, company revenue, location, and level also heavily inform what's expected.

Most companies assign a target bonus that each employee is eligible to receive at the end of the year. The employer awards the full annual bonus if the employee meets specific goals and the company or department meets its performance goals.