TechWhirl (TECHWR-L) is a resource for technical writing and technical communications professionals of all experience levels and in all industries to share their experiences and acquire information.
For two decades, technical communicators have turned to TechWhirl to ask and answer questions about the always-changing world of technical communications, such as tools, skills, career paths, methodologies, and emerging industries. The TechWhirl Archives and magazine, created for, by and about technical writers, offer a wealth of knowledge to everyone with an interest in any aspect of technical communications.
Both the IRS and the CA Franchise Tax Board refer to these
as "tax rates," because withholding is considered a tax that
you are required to pay on income *at the time the income is
received* but can apply for a partial refund of at a later time.
If you try to adjust your withholding during the year as you
describe, you may find yourself liable for a fine for insufficient
tax payments during the year, along the same lines of what
happens if a self-employed individual underpays estimated tax
during the year and then sends a big check for the full year's
tax liability on April 15.
Chiming in a bit late here, but this is a common error that needs
correcting: Greg's original comment - "bonuses have a higher tax rate
(55-60% IME)" - and the responses to it have all incorrectly referred to
the *tax rate* on bonuses when it's really the *withholding* that you're
talking about.
WebWorks ePublisher Pro for Word features support for every major Help
format plus PDF, HTML and more. Flexible, precise, and efficient content
delivery. Try it today! http://www.webworks.com/techwr-l
Create HTML or Microsoft Word content and convert to Help file formats or
printed documentation. Features include single source authoring, team authoring,
Web-based technology, and PDF output. http://www.DocToHelp.com/TechwrlList
