Current Events > $2300 bonus at work before taxes. A little above $1500 after taxes.

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Weezy_Tha_Don
03/09/23 9:56:39 AM
#1:


god. damnit.

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Realforce
03/09/23 9:58:01 AM
#2:


$800 gone, ain't that a bitch.

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BlazinBlue88
03/09/23 9:58:24 AM
#3:


Sounds about right. Bonuses are taxed harder than standard salary/hourly.

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Giant_Aspirin
03/09/23 10:00:14 AM
#4:


aren't you thrilled you got $1500 tho?

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emblem-man
03/09/23 10:00:50 AM
#5:


BlazinBlue88 posted...
Sounds about right. Bonuses are taxed harder than standard salary/hourly.

This. You'll get the money back when you do your taxes, but many times it's taxed higher initially because it kinda messes with how they do the withholding calculation since it's an irregular payment.

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LeCh0nk
03/09/23 10:01:27 AM
#6:


BlazinBlue88 posted...
Sounds about right. Bonuses are taxed harder than standard salary/hourly.
Yes and no. It seems that way because they're added to your salary, so the full thing is taxed at the highest tax bracket you're in, while your salary is an average of all the tax brackets. Essentially, with a 2300 bonus, your salary went up by that much and you're taxed just like it went up by that much.

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Weezy_Tha_Don
03/09/23 10:01:45 AM
#7:


Giant_Aspirin posted...
aren't you thrilled you got $1500 tho?

oh dont get me wrong, I am. I knew quite a bit was going to get taken out, but $800? man, thats rough lol

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trickMms
03/09/23 10:02:38 AM
#8:


taxes really are criminal

especially on bonuses/commission. those are taxed harder than bi/weekly paychecks

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megamanfreakXD
03/09/23 10:03:05 AM
#9:


So?

My paycheck gets taxed about 45% every month. We still didn't get our bonus yet for the year.

The best part is that it goes to fund the next patient admission for alcohol withdrawal

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emblem-man
03/09/23 10:04:19 AM
#10:


trickMms posted...
taxes really are criminal

especially on bonuses/commission. those are taxed harder than bi/weekly paychecks (for god knows why)


Google it. It's not some unknown reason

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#11
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Questionmarktarius
03/09/23 10:13:24 AM
#12:


Weezy_Tha_Don posted...
god. damnit.
This is how people become republicans

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emblem-man
03/09/23 10:14:51 AM
#13:


Questionmarktarius posted...
This is how people become republicans

https://gamefaqs.gamespot.com/a/user_image/4/3/0/AAEhCpAAEQkO.jpg

By not understanding how taxes work.

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Giant_Aspirin
03/09/23 10:17:37 AM
#14:


Weezy_Tha_Don posted...
oh dont get me wrong, I am. I knew quite a bit was going to get taken out, but $800? man, thats rough lol

roughly 1/3. sounds about right.

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Questionmarktarius
03/09/23 10:18:54 AM
#15:


emblem-man posted...
By not understanding how taxes work.
probably, yes.

"Why the hell is so much of my paycheck being taken? MAGA! MAAAAGAAAAAH!"
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emblem-man
03/09/23 10:24:36 AM
#16:


To add to my above, bonuses are seen as supplemental income and are texted at a flat federal rate of 22%, plus the other stuff like social security and state taxes, etc.

If you look at your regular paychecks, you'll see that your federal rate is at less than 22%. But again, it all washes out when it comes to your tax return.

But yes, there should be a better way to calculate this stuff so that people don't get annoyed.
Questionmarktarius posted...
probably, yes.

"Why the hell is so much of my paycheck being taken? MAGA! MAAAAGAAAAAH!"

Yep. I wasn't even trying to be flippant. Misunderstanding about taxes is definitely a way to ferment dislike of progressive policies.

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