If you make $120,000 a year living in the region of New York, USA, you will be taxed $36,199. That means that your net pay will be $83,801 per year, or $6,983 per month. Your average tax rate is 30.2% and your marginal tax rate is 39.6%. This marginal tax rate means that your immediate additional income will be taxed at this rate. For instance, an increase of $100 in your salary will be taxed $39.60, hence, your net pay will only increase by $60.40.
A $1,000 bonus will generate an extra $604 of net incomes. A $5,000 bonus will generate an extra $3,020 of net incomes.