are xmas bonuses taxable

Xmas bonuses, also known as Christmas bonuses, are considered supplemental pay and are subject to taxes just like any other form of compensation. The amount of tax that you owe on your bonus will depend on the amount you receive and your individual tax situation. In general, bonuses are taxed at your regular tax rate. However, if your bonus is large enough, it could bump you into a higher tax bracket, which means you'll owe more in taxes. Additionally, if your employer withholds taxes from your bonus, those withholdings will be applied to your regular paycheck and could reduce your take-home pay.