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Newsday

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.

Read the Original Article

This article originally published December 9th, 2017 on Newsday

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