If you were getting a sum of 27k severance pre tax, how much would that be after taxes are taken out? Is it like 19k?
3 replies (most recent on top)
It's taxed as income.
@a2 Bonuses are taxed federally at nearly 40% withholding. But yes, your overall tax cannot be more than your federal tax bracket
Federally, it’s taxed like a bonus at 22%