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re: Just Got My Yearly Bonus
Posted on 11/23/21 at 5:05 pm to MindGoblin
Posted on 11/23/21 at 5:05 pm to MindGoblin
Some employers will let you opt out of all deductions except for Social Security, but it takes a hell of a lot of discipline to remember to set aside that money come April.
That said, a very wise tax whisperer once told me you should always avoid paying Uncle Sam until you absolutely have to do so.
A wealthy friend also pointed out that taxes are only for the poor and stupid.
That said, a very wise tax whisperer once told me you should always avoid paying Uncle Sam until you absolutely have to do so.
A wealthy friend also pointed out that taxes are only for the poor and stupid.
This post was edited on 11/23/21 at 5:06 pm
2
Posted on 11/23/21 at 5:08 pm to MorbidTheClown
quote:
jelly of the month club?
It’s from the movie Christmas Vacation. Clark had invented some new flavor enhancer that brought a ton of money into the company. He was expecting to receive a hefty bonus and put it into a new pool. I’d tell you the rest but you should probably watch the movie.
Posted on 11/23/21 at 5:09 pm to MindGoblin
Who gets their bonus at the end of the year?
We get ours in April. Which kinda sucks but makes sense. EOY results are needed to determine payouts
We get ours in April. Which kinda sucks but makes sense. EOY results are needed to determine payouts
Posted on 11/23/21 at 5:10 pm to MindGoblin
How much was your bonus?
Posted on 11/23/21 at 5:16 pm to deltaland
quote:
Just imagine. Think of the economic growth if everyone all the sudden kept 90% of their wages
If 10% is good enough for Jesus, it ought to be good enough for Uncle Sam.
Posted on 11/23/21 at 5:19 pm to MindGoblin
This your first bonus? They're always taxed this way.
Posted on 11/23/21 at 5:24 pm to fr33manator
quote:
Seriously, frick the IRS. If people had to write out checks for a portion of every paycheck for those fricks to waste on their bullshite we’d fix some things real quick
Yep, my friends who have always had a paycheck with taxes taken out don’t seem as bothered as those who pay. Out of sight, out of mind.
Posted on 11/23/21 at 5:26 pm to athenslife101
quote:
Who gets their bonus at the end of the year?
A lot of people? I work for a CPA firm, and we get it one week before end of year so we can hurry up and do our taxes and get the rest of the overly taxed bonus
Posted on 11/23/21 at 5:26 pm to SeaBass23
quote:
It’s from the movie Christmas Vacation. Clark had invented some new flavor enhancer that brought a ton of money into the company.
It was a non nutritive cereal varnish.
Posted on 11/23/21 at 5:30 pm to MindGoblin
Yeah, it's always been pretty close to that. Is this your 1st year getting a bonus, rookie?
Posted on 11/23/21 at 6:17 pm to MindGoblin
I'm sure it's been mentioned, but bonuses are always taxed as supplemental income up front.
Come tax time when you file, it's considered regular income and subject to your effective tax rate which means you'll like get half of what was withheld back as a refund. (Obviously depending on other factors)
Come tax time when you file, it's considered regular income and subject to your effective tax rate which means you'll like get half of what was withheld back as a refund. (Obviously depending on other factors)
Posted on 11/23/21 at 6:20 pm to MindGoblin
It's called temporarily hitting another tax bracket. Ask your boss how it plays out end of year.
Posted on 11/23/21 at 6:25 pm to MyRockstarComplex
quote:
A wealthy friend also pointed out that taxes are only for the poor and stupid.
Definitely sounds like the type that makes sure his friends know he's wealthy.
Posted on 11/23/21 at 6:30 pm to atxfan
quote:
You sound like K'Lavon Chaisson when he found out about withholding taxes.
It’ll be interesting as more athletes get NIL and see the tax burden earlier in life how many of them wise up and start thinking more right.
Posted on 11/23/21 at 6:57 pm to MindGoblin
Pretty sure Donald Trump took that much out of mine last year as well. I don't care who is in office. It's too damn much.
Posted on 11/23/21 at 7:01 pm to MyRockstarComplex
quote:
Some employers will let you opt out of all deductions except for Social Security, but it takes a hell of a lot of discipline to remember to set aside that money come April.
Usually not for a bonus.
Paid differently. Small companies might not play by the same rules though.
Posted on 11/23/21 at 7:13 pm to fightin tigers
You can have whatever the hell you want to have withheld, depending on how you file. Single and none, or married with 4. Your choice. Just know that if you don't pay taxes on the front end, you will get nailed to the cross paying on the back end. And anybody that flip flops from one status to another will most certainly get audited by the IRS as it will throw up red flags.
By the way, I'm not responding to you but just hit the reply button. I'm really responding to the other guy.
By the way, I'm not responding to you but just hit the reply button. I'm really responding to the other guy.
Posted on 11/23/21 at 7:40 pm to MindGoblin
If my tax bill was income it would put me in the top 1%. F joe Biden and anyyone who’s ever been to Washington.
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