 Big bonus check comming soon, what can i do so they wont take alot of taxes? |
| can i change the amount of dependents? if so, how many dependents? is there a limit? im aware of the penalties at the end of the year, but i only want to do this on 1 check.... |
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 Question about tax return? |
| I had my 1st job this summer I worked 4rm the end of May to the second week of August for min. wage. I also have 1 yr old daughter. My question is what exactly do I need to do to get my taxes back? I ... |
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 Taxes: How many to claim on W-4 (Expert advice only please)? |
I am getting married tomorrow, and in leu of that, my fiancee and I are updating our w-4's.
A little background:
a) She has a son, 2 years old, that lives with us full time
... |
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 Does anyone know anything about Council Tax? |
| If you are in full time employment but live in a household of students (who pay no council tax) how much council tax do you have to pay?... |
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 Based on my values what Candidate is best for me? |
I make over $200,000 per year & will inherit over 7 million.
I don't want to pay any tax on that $7 million!!
I dont want my taxes to go to;
(a) people or children who can'... |
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 What happens if you don't pay Federal Imcome Tax? |
| I just watched Zeitgeistmovie.com. And some former IRS agents said that they could not find anywhere in the constitution or any place else where it was law that we pay Income Taxes. These two ... |
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 Question re jobseekers allowance? |
| i made my initial claim for jobseeker's allowance on 29th April and have still yet to receive any money. i phoned jobcentre today and they said that the processing department had simply ... |
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 Should I pay property tax? |
| My home is going into foreclosure, I don't think I should pay the property tax. why?... |
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 Dole money, UK? |
Our lass was made redundant 3 weeks ago and applyed for the dole today.
She starts a new job Mid June but we pay so much tax we thought we'd claim the dole for the 5-6 weeks until ... |
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 Will my daughter have to pay taxes on this? |
If I pay off my daughter's bills ,including her vehicles, will she have to claim it as income and pay taxes on it? The total would be forty thousand.
Additional Details
She is not a ... |
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 Tax credits annual review? |
| i filled in the form but after checking details our income was £500 less than the year before does that mean they will owe us money?... |
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 Why does the uk let the government act the way they do..council tax..? |
| I've lived in england all my life and I cant believe we are letting our government get away with the stuff they are doing..specifically Council Tax... I understand that they may have to reform ... |
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 If you win 1.000.000 on deal or no deal, how high are the taxes? |
Won´t they be like a minimum of 27 % and depend on the rest of your income?
If you make 40.000 a year and win 1.000.000 - how much do you get to keep?
Additional Details
Just for ... |
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 Benefits??? Am I able to claim?? |
| I gave up my job as a manager two months ago, as I found it to stressfull. I have never claimed before. I live on my own and rent a private house. I am now running out of money to pay for it all. Can ... |
|
 Can i claim my partners children on my taxes? |
| my partner and i have been together for 9 years in Virginia. She has 2 kids and i have one. All children live with us. Up until this point we have both filed taxes seperately. For the year 2007, ... |
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 UK only .. My Council Tax is now ....? |
£3,400 a year ..! ... it that because i have a 5 bed House in Essex..? .... Yet the scum bags a mile from me pay phuck all..!!!
OK , im lucky ...the house is mine ( payed cash for it 2 years ... |
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Tordita | If my usual salary is 26000 per year......? |
and i get a 1000 christmas bonus , will i be taxed on it and if so by how much? |
 |
 
guido74
|
Assuming you are bearing the tax cost (i.e the employer has not designated a £1k bonus after deductions), your normal net pay is around £1,611 but this month's would be around £2,319.
The extra £1k suffers tax of £220 (22%) plus NI class 1 of £73 (most of the £1k is NICed at 11%, but £371 is above the upper earnings limit so only at 1%).
Hope this helps - there are a couple of assumptions (that you are not a company director and other, probably irrelevant stuff), but it should be a reasonable estimate. |
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Oldbeard
|
Bonuses are taxed as income at the top rate that you currently pay. IIRC they also attract NI to your monthly limit if you are still below that. |
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mrwurzal
|
26k lucky you and £1000 bonus!!! i wouldnt worry about it!! you got enough as it is! |
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bouncingtigger13
|
Yes, of course you will get taxed. When in this country don't we get taxed? For everything??! (Cartoon in the paper this morning - a fog light tax...)
Seriously, though, you will get taxed, at the normal rate of tax that you pay. You'll also pay NI on it, and, if you have a work pension, a contribution to that will come off, too. Well, that's what happens with any bonuses I get, at any rate.
However, congratulations on getting a bonus, and have a Happy Christmas with it! |
|
Boscombe
|
Rates and Allowances - Income Tax
Income Tax Allowances Income tax allowances
2006-07 (£)
2007-08 (£)
Personal allowance
5,035
5,225
Personal allowance for people aged 65-74
7,280
7,550
Personal allowance for people aged 75 and over
7,420
7,690
Income limit for age-related allowances
20,100
20,100
Married couple's allowance * (aged less than 75 are born before 6th April 1935)
6,065
6,285
Married couple's allowance - aged 75 and over
6,135
6,365
Minimum amount of married couple's allowance
2,350
2,440
Blind person's allowance
1,660
1,730
Tax relief for the married couple's allowance is given at the rate of 10 per cent.
Taxable Bands Taxable Bands Allowances
2005-06 (£)
2006-07 (£)
Starting rate 10%
0 - 2,090
0 - 2,150
Basic rate 22%
2,091 - 32,400
2,151 - 33,300
Higher rate 40%
over 32,400
over 33,300
Happy Christmas |
|
The Alchemist
|
Yes you will be taxed on it and depending on where you live will depend on how much by. In the UK we are taxed at source 27 pence in the pound. |
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bob t
|
Yes you will be taxed on it and it will be at the same rater you normaly pay tax. It is as far as the parasites in the tax office are concerned just part of your salary |
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BobC
|
Yes you will be taxed on it, treated as income, the rate of tax will be at the highest level of tax you normally pay, so if you are in the 40% bracket then will be taxed at 40% |
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finalfrontier1976
 |
It depends on the company, some companies make the bonus tax free so they give you more then 1000 so that after tax it equals to the bonus they promised.
It would be at the normal tax rate you pay. |
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pete m
|
Your looking at a very rough figure of 25% total deductions, but you will still be charged at your normal tax rate as this does not take you into the higher tax band |
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leedsmikey
|
Yes it will and at the same rate as your salary. |
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