Started By
Message

re: Were you surprised by how much of your paycheck goes to taxes when you just started out?

Posted on 6/7/17 at 1:12 am to
Posted by DeafJam73
Baton Rouge
Member since Sep 2010
19122 posts
Posted on 6/7/17 at 1:12 am to
I always expected to pay taxes. What bothered me was that sometimes I still owed at the end of the year.
Posted by FLBooGoTigs1
Nocatee, FL.
Member since Jan 2008
59576 posts
Posted on 6/7/17 at 1:16 am to
That has happened to me on several occasions. I got an accountant now so it doesn't happen anymore
Posted by DeafJam73
Baton Rouge
Member since Sep 2010
19122 posts
Posted on 6/7/17 at 1:18 am to
I file single and none. Yet this year I owed $58 to the state but got back $20 from the feds.
Posted by Peazey
Metry
Member since Apr 2012
25427 posts
Posted on 6/7/17 at 1:25 am to
quote:

The real surprise was the first time I got a raise that put me in the next tax bracket and my paycheck was lower. Didn't see that coming.




That isn't how tax brackets work. It increases your marginal tax rate. A raise will never make your income decrease. At least not from an increase in taxes.



Why are you lying about getting raises on the OT?
This post was edited on 6/7/17 at 1:37 am
Posted by FLBooGoTigs1
Nocatee, FL.
Member since Jan 2008
59576 posts
Posted on 6/7/17 at 1:35 am to
After my divorce I needed a paycheck so I didn't claim single with one dependent. My son lived with me but I still claimed married with 3 dependents. BIG MISTAKE. I owed IRS 7k one year.
Posted by DeafJam73
Baton Rouge
Member since Sep 2010
19122 posts
Posted on 6/7/17 at 1:40 am to
Yeah...being dishonest with IRS is never a good idea. They get their money every time.
Posted by shawnlsu
Member since Nov 2011
23682 posts
Posted on 6/7/17 at 7:32 am to
I wouldn't call it shock as much as rage, and I still rage once a week.
Posted by Antonio Moss
The South
Member since Mar 2006
49577 posts
Posted on 6/7/17 at 7:36 am to
Not really because my dad prepared me.
Posted by Moxie
Member since Apr 2017
350 posts
Posted on 6/7/17 at 1:42 pm to
Sorry I only blamed the government for kicking me when I was down instead of listing all involved.
The bottom line is that was the day I learned how life isn't fair. If I was going to lie it wouldn't be about how poor I was living paycheck to paycheck thinking a raise would change that.
Posted by ccomeaux
LA
Member since Jan 2010
8184 posts
Posted on 6/7/17 at 2:12 pm to
I'm 50 and it still shocks me. It only gets worse
you build the tax shelters to address year end filings, nothing you can do about payroll taxes
Posted by Jake88
Member since Apr 2005
80828 posts
Posted on 6/7/17 at 2:17 pm to
No, because I started as a kid in a minimum wage job and got it all back when I filed.
first pageprev pagePage 3 of 3Next pagelast page
refresh

Back to top
logoFollow TigerDroppings for LSU Football News
Follow us on X, Facebook and Instagram to get the latest updates on LSU Football and Recruiting.

FacebookXInstagram