I found out that my boss takes off 20% off my paycheck in taxes.

[CarlKillerMiller]

I went into work the other day to pick up my paycheck. I work at a fairly small place, so my boss calculates everything and writes the checks herself. I picked up my check for two weeks worth of work. It read 50 bucks and change. I knew that this was wrong, so she went in and recalculated the pay (turns out that she forgot to log in 3/4 of my shifts). So I'm standing behind her as she calculates my pay. It comes to around 230$, and she takes off Twenty percent in taxes.

That seems a bit high to me, is that about where it should be? I live in IL, by the way.

 

[Ns1]

even at teh lowest bracket it's what, 10-15% federal + state + SS


and dude, for the past 3 paychecks my gross has been ~750 and my takehome has been ~450!

 

[DAGTA]

20% is high? My tax rate is 40.3%. (self employed)
25% is 'typical'

http://taxes.yahoo.com/rates.html

 

[waggy]

hahahahah welcome to the real world.

20% high? hahahaha damn. wish i paid that.

 

[Eli]

lol

20% is normal. My girlfriend has 23% taken out.

 

[Steve]

20% is about what I lose in taxes every paycheck, and I live in IL.

 

[bmacd]

I used to pay about ~20% in taxes. Now it's about 26%. Welcome to the working world!

-=bmacd=-

 

[HN]

26.29% difference betwn my gross pay and net pay

*edit*
sorry, for just taxes mine is 19.58%

 

[jspeicher]

i work part time and only lose about 18%, thank god.

 

[KarenMarie]

I wish they only took 20% of my b/f pay!! Self employed. taxed to he!! and back, never mind extortionate insurance charges and workman's comp.

If they only took even 30% total to cover everything.... we would be laughing.

 

[thechinesehero]

Originally posted by: CarlKillerMiller
I went into work the other day to pick up my paycheck. I work at a fairly small place, so my boss calculates everything and writes the checks herself. I picked up my check for two weeks worth of work. It read 50 bucks and change. I knew that this was wrong, so she went in and recalculated the pay (turns out that she forgot to log in 3/4 of my shifts). So I'm standing behind her as she calculates my pay. It comes to around 230$, and she takes off Twenty percent in taxes.

That seems a bit high to me, is that about where it should be? I live in IL, by the way.

lol newb

 

[FoBoT]

you can figure it out if you want to , but that sounds right, you lose almost 8% to FICA alone
what makes you think she doesn't know what she is doing?

just remember this when you vote, if you want to pay more taxes, you know who to vote for

 

[theGlove]

Originally posted by: CarlKillerMiller
I went into work the other day to pick up my paycheck. I work at a fairly small place, so my boss calculates everything and writes the checks herself. I picked up my check for two weeks worth of work. It read 50 bucks and change. I knew that this was wrong, so she went in and recalculated the pay (turns out that she forgot to log in 3/4 of my shifts). So I'm standing behind her as she calculates my pay. It comes to around 230$, and she takes off Twenty percent in taxes.

That seems a bit high to me, is that about where it should be? I live in IL, by the way.

maybe tell your boss that she is in the year 2005 and that we have something called computers

 

[Kelemvor]

20% is normally low but it all evens out when you do your taxes. If youpay too litte, you'll have to pay more. If you pay too much, you'll get a refund. As long as you get an actual W2 form and this isn't being paid under the table, you should be fine.

 

[sonoma1993]

my average taxes taken out is 21%, so your 20% taxes is about right.

 

[sygyzy]

LMAO! Is this your first job?

 

[iamwiz82]

I wish mine was at 20%. I think I see 60% of my before-tax total

 

[Orsorum]

Ahaha, yeah, welcome to lack of accountability in your elected officials.

 

[xSauronx]

Originally posted by: DAGTA
20% is high? My tax rate is 40.3%. (self employed)
25% is 'typical'

http://taxes.yahoo.com/rates.html

yeah, mine has been about 23% for the last few years, this is in NC

 

[Eli]

Originally posted by: iamwiz82
I wish mine was at 20%. I think I see 60% of my before-tax total

WTF? :Q

Do you make like 500,000$ a year? lol

 

[Mermaidman]

Originally posted by: sygyzy
LMAO! Is this your first job?

:roll:

 

[DAGTA]

Originally posted by: Eli

Originally posted by: iamwiz82
I wish mine was at 20%. I think I see 60% of my before-tax total

WTF? :Q

Do you make like 500,000$ a year? lol

He's probably self-employed. Self-employed people get hit with an additional 15.3% Self-Employment tax (I wish I was joking) on top of the 'standard' tax. That's not even getting into paying your own insurance, retirement savings, business expenses, etc. Taxation is way out of control.

 

[markgm]

If you make $290 before taxes, then it was done right. You make $X * 0.79362340844001242193161036541182 an hour after taxes.


Weekly Gross Pay
$289.81
Federal Withholding
$28.95
Social Security
$17.97
Medicare
$4.20
Illinois
$8.69

Net Pay
$230.00

 

[DainBramaged]

Originally posted by: sm8000
20% is about what I lose in taxes every paycheck, and I live in IL.

Same here.

 

[Eli]

Originally posted by: DAGTA

Originally posted by: Eli

Originally posted by: iamwiz82
I wish mine was at 20%. I think I see 60% of my before-tax total

WTF? :Q

Do you make like 500,000$ a year? lol

He's probably self-employed. Self-employed people get hit with an additional 15.3% Self-Employment tax (I wish I was joking) on top of the 'standard' tax. That's not even getting into paying your own insurance, retirement savings, business expenses, etc. Taxation is way out of control.

Whoops, I thought he said that he had 60% taken away in taxes... lol