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the govt raped my signing bonus.....:(

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You didn't expect Uncle Sam to get off his ass and go get a job for himself did ya?? 😛

THe man will always get his cut.
 
Originally posted by: Gibson486
3k turned into 1.6k🙁 This is what it i slike to be the working world.... I had no idea the govt took near 50%.....
Click to expand...

Welcome to the real world. And the more you make, the higher percentage you are taxed. Look down at your W2s and see you paid 45K in taxes and see how that feels.

You see, you're "too rich" and we need to distribute your income to others. So I'm just going to reach into your check and take my share.

It's only fair.
 
Originally posted by: LS21
somebody has to fund the war...
Click to expand...

But...but...Cheney said the war is going to pay for itself and the reconstruction of Iraq. You mean that's not true?!?!

/sorry...off to p&n
 
Originally posted by: CPA
Originally posted by: JS80
Originally posted by: Gibson486
3k turned into 1.6k🙁 This is what it i slike to be the working world.... I had no idea the govt took near 50%.....
Click to expand...

Vote for Obama!

You'll get that as a refund. You should up your witholding exemptions on your W-4.
Click to expand...

Withholding exemptions don't effect bonuses for the most part. Bonuses are special compensation and are taxed at 25% regardless of what your withholdings are.
Click to expand...

Is this like capitol gains? Why are people saying 50% and you are saying 25%? Where are these numbers coming from?

thanks
 
Originally posted by: spidey07
Originally posted by: Gibson486
3k turned into 1.6k🙁 This is what it i slike to be the working world.... I had no idea the govt took near 50%.....
Click to expand...

Welcome to the real world. And the more you make, the higher percentage you are taxed. Look down at your W2s and see you paid 45K in taxes and see how that feels.

You see, you're "too rich" and we need to distribute your income to others. So I'm just going to reach into your check and take my share.

It's only fair.
Click to expand...

I freaking dream of the day I get to pay that much in taxes. Actually though, I'd probably opt to make less and have more free time.
 
Originally posted by: Gibson486
3k turned into 1.6k🙁 This is what it i slike to be the working world.... I had no idea the govt took near 50%.....
Click to expand...

Ah, now you see why kids in college are liberals, and working people are conservatives 🙂
 
Originally posted by: dakels
Originally posted by: CPA
Originally posted by: JS80
Originally posted by: Gibson486
3k turned into 1.6k🙁 This is what it i slike to be the working world.... I had no idea the govt took near 50%.....
Click to expand...

Vote for Obama!

You'll get that as a refund. You should up your witholding exemptions on your W-4.
Click to expand...

Withholding exemptions don't effect bonuses for the most part. Bonuses are special compensation and are taxed at 25% regardless of what your withholdings are.
Click to expand...

Is this like capitol gains? Why are people saying 50% and you are saying 25%? Where are these numbers coming from?

thanks
Click to expand...

I think he means they take 25% out initially, but then ultimately you will settle up at the end of the year when you file your taxes. Is that correct? I don't recall seeing a place in turbotax to enter in income specifically from bonuses.
 
Originally posted by: dakels
Originally posted by: CPA
Originally posted by: JS80
Originally posted by: Gibson486
3k turned into 1.6k🙁 This is what it i slike to be the working world.... I had no idea the govt took near 50%.....
Click to expand...

Vote for Obama!

You'll get that as a refund. You should up your witholding exemptions on your W-4.
Click to expand...

Withholding exemptions don't effect bonuses for the most part. Bonuses are special compensation and are taxed at 25% regardless of what your withholdings are.
Click to expand...

Is this like capitol gains? Why are people saying 50% and you are saying 25%? Where are these numbers coming from?

thanks
Click to expand...

Yeah it's like capitol gains. Your money goes to the capitol, and the government gains it.

Originally posted by: Special K
I think he means they take 25% out initially, but then ultimately you will settle up at the end of the year when you file your taxes. Is that correct? I don't recall seeing a place in turbotax to enter in income specifically from bonuses.
Click to expand...

Yeah, it's withheld at a higher rate than the rest of your income, but it is taxed at your marginal tax rate.
 
Originally posted by: CPA
Originally posted by: JS80
Originally posted by: Gibson486
3k turned into 1.6k🙁 This is what it i slike to be the working world.... I had no idea the govt took near 50%.....
Click to expand...

Vote for Obama!

You'll get that as a refund. You should up your witholding exemptions on your W-4.
Click to expand...

Withholding exemptions don't effect bonuses for the most part. Bonuses are special compensation and are taxed at 25% regardless of what your withholdings are.
Click to expand...

yes i know, but as to pay less from each pay check to even it out by year end.
 
Have you never had a real job? Did you not notice the difference between your gross and net pay? Or are you one of those who is just happy to be paid what your net pay is?
 
Originally posted by: compman25
Have you never had a real job? Did you not notice the difference between your gross and net pay? Or are you one of those who is just happy to be paid what your net pay is?
Click to expand...

What are you talking about? Not every "real job" gets a signing bonus. Grow up some. I've only had two job offers include a signing bonus. Not everyone will get one and know how it feels to see it heavily taxed. He's learned and moved on. Now he just has to wait for the yearly bonus to feel it again.
 
Originally posted by: Baked
Oh noes, they stole your free money. What's this bonus you speak of?
Click to expand...

I wouldn't quite call it "free". You work for a piece of compensation that's ultimately contingent . I got about 25% of the bonus I was told to expect this year, so I am smarting from a sucky market.


When I started this job I got a 30k signing and 10k moving bonus. We ended up with about 25k net. That sucked.
 
How do you get the portion back? I got a 3k bonus last year but didn't see how or where I would call out for that bonus. I already did my taxes but I'm sure I can have a tax person look at my return.
 
Originally posted by: vi edit
My wife's 20k sign on bonus turned into 12k.

Now that's a kick to the ovaries.
Click to expand...

You'll get some back. As already posted it's just withheld at a different rate.

I had to exercise some stock options this year. Yep - withheld at the MAXIMUM federal rate. Including FICA and SS! WTF!!!!! SUCKS!!!!!!!!!
 
Originally posted by: spidey07
Originally posted by: vi edit
My wife's 20k sign on bonus turned into 12k.

Now that's a kick to the ovaries.
Click to expand...

You'll get some back. As already posted it's just withheld at a different rate.

I had to exercise some stock options this year. Yep - withheld at the MAXIMUM federal rate. Including FICA and SS! WTF!!!!! SUCKS!!!!!!!!!
Click to expand...

I know. It's just disheartening when you get your first real job after 7 years of school and see that "20k" figure and get the check and it's almost half that.
 
I have a yearly 10,000 retention bonus , I get to take home $5800 🙁

around 45% of my salary goes to the government. I say down with the government if my salary did not come from them 🙂

Welcome to the wonderful world of big government.


peace
 
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