Taxes can be the Grinch that steals your bonus joy
By Sheryl Nance-Nash
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.