Got a Bonus at Work this week and.......

LloydXmas
LloydXmas Posts: 7,539
edited February 2011 in A Moving Train
Uncle Sam took almost 45 fing percent.

Add that to Gov Malloy's recent budget proposal, I'm gonna need to move out of CT soon.

Cheers to working hard and being middle class.
Post edited by Unknown User on

Comments

  • Newch91
    Newch91 Posts: 17,560
    Dammit Dannel!
    Shows: 6.27.08 Hartford, CT/5.15.10 Hartford, CT/6.18.2011 Hartford, CT (EV Solo)/10.19.13 Brooklyn/10.25.13 Hartford
    "Becoming a Bruce fan is like hitting puberty as a musical fan. It's inevitable." - dcfaithful
  • LloydXmas
    LloydXmas Posts: 7,539
    Newch91 wrote:
    Dammit Dannel!
    At least he's proposing a slap on the wrist for marijuana violations.
  • Newch91
    Newch91 Posts: 17,560
    BabaBooey1979 wrote:
    Newch91 wrote:
    Dammit Dannel!
    At least he's proposing a slap on the wrist for marijuana violations.
    :think:
    Don't forget the 20% liquor increase.
    Shows: 6.27.08 Hartford, CT/5.15.10 Hartford, CT/6.18.2011 Hartford, CT (EV Solo)/10.19.13 Brooklyn/10.25.13 Hartford
    "Becoming a Bruce fan is like hitting puberty as a musical fan. It's inevitable." - dcfaithful
  • BinauralJam
    BinauralJam Posts: 14,158
    Newch91 wrote:
    BabaBooey1979 wrote:
    Newch91 wrote:
    Dammit Dannel!
    At least he's proposing a slap on the wrist for marijuana violations.
    :think:
    Don't forget the 20% liquor increase.

    :shock: damn
  • Claireack
    Claireack Posts: 13,561
    At least you got some kind of bonus. Work for the NHS over here and I haven't got a flying f****s chance of ever getting a bonus.
    <a href="http://s952.photobucket.com/albums/ae8/catkinson_2009/?action=view&current=domo.jpg&quot; target="_blank"><img src="http://i952.photobucket.com/albums/ae8/catkinson_2009/domo.jpg&quot; border="0" alt="Photobucket"></a>
  • satansbed
    satansbed Posts: 2,139
    BabaBooey1979 wrote:
    Uncle Sam took almost 45 fing percent.

    Add that to Gov Malloy's recent budget proposal, I'm gonna need to move out of CT soon.

    Cheers to working hard and being middle class.


    45% isn't the worst it could be though
  • LloydXmas
    LloydXmas Posts: 7,539
    Claireack wrote:
    At least you got some kind of bonus. Work for the NHS over here and I haven't got a flying f****s chance of ever getting a bonus.
    II hear ya. I'm grateful that I have the extra $ in my pocket for sure. Was just a little shocked when I checked my stub.
  • cincybearcat
    cincybearcat Posts: 16,889
    satansbed wrote:
    BabaBooey1979 wrote:
    Uncle Sam took almost 45 fing percent.

    Add that to Gov Malloy's recent budget proposal, I'm gonna need to move out of CT soon.

    Cheers to working hard and being middle class.


    45% isn't the worst it could be though


    Does that seem reasonable to you?

    They could take 99% and you could still say, it could be worse...pretty bad argument in my opinion.
    hippiemom = goodness
  • Claireack
    Claireack Posts: 13,561
    BabaBooey1979 wrote:
    Claireack wrote:
    At least you got some kind of bonus. Work for the NHS over here and I haven't got a flying f****s chance of ever getting a bonus.
    II hear ya. I'm grateful that I have the extra $ in my pocket for sure. Was just a little shocked when I checked my stub.

    Didn't mean to sound mean - glad you got it :)
    <a href="http://s952.photobucket.com/albums/ae8/catkinson_2009/?action=view&current=domo.jpg&quot; target="_blank"><img src="http://i952.photobucket.com/albums/ae8/catkinson_2009/domo.jpg&quot; border="0" alt="Photobucket"></a>
  • Cosmo
    Cosmo Posts: 12,225
    BabaBooey1979 wrote:
    Uncle Sam took almost 45 fing percent.

    Add that to Gov Malloy's recent budget proposal, I'm gonna need to move out of CT soon.

    Cheers to working hard and being middle class.
    ...
    Isn't that the amount that is withheld? It all depends on what your W4 looks like. Maybe, you should adjust it.
    Allen Fieldhouse, home of the 2008 NCAA men's Basketball Champions! Go Jayhawks!
    Hail, Hail!!!
  • Cosmo
    Cosmo Posts: 12,225
    Yeah... check your W4. Sounds like you are having way too much withheld.
    ...
    I got my annual Employee Share bonus this week and I'm withheld 33% of the gross, even after 13% is cleared from taxing (401K, Medical co-pay, supplemental insurance). The 33% is for Income Tax, Medicare, Social ecurity and California Income ans SDI withholdings. And... I file Single with 1.
    Allen Fieldhouse, home of the 2008 NCAA men's Basketball Champions! Go Jayhawks!
    Hail, Hail!!!
  • megatron
    megatron Posts: 3,420
    wtf is a bonus?
  • arq
    arq Posts: 8,101
    megatron wrote:
    wtf is a bonus?

    WTF is a work? :(
    "The good thing about science is that it's true whether or not you believe in it"
    Neil deGrasse Tyson

    Why not (V) (°,,,,°) (V) ?
  • JOEJOEJOE
    JOEJOEJOE Posts: 10,829
    The IRS has special rules when it comes to withholding taxes on bonuses. In many cases, changing your W-4 doesn't help reduce withholding.

    Ask your tax preparer to do a projection for your 2011 taxes. Based on said projection, you can possibly lower your withholding for the rest of the year.

    Because so many people are behind on their taxes, the IRS is being proactive, and notifying employers that they must withhold at a higher rate for certain employees who get into tax trouble year after year.
  • 81
    81 Needing a ride to Forest Hills and a ounce of weed. Please inquire within. Thanks. Or not. Posts: 58,276
    special witholding rate on bonus. it's gets reconciled come tax prep time
    81 is now off the air

    Off_Air.jpg
  • Cosmo
    Cosmo Posts: 12,225
    JOEJOEJOE wrote:
    The IRS has special rules when it comes to withholding taxes on bonuses. In many cases, changing your W-4 doesn't help reduce withholding.

    Ask your tax preparer to do a projection for your 2011 taxes. Based on said projection, you can possibly lower your withholding for the rest of the year.

    Because so many people are behind on their taxes, the IRS is being proactive, and notifying employers that they must withhold at a higher rate for certain employees who get into tax trouble year after year.
    ...
    Still... 45% is pretty high. My withholdings on the bonus/regular pay was 33%.
    I would be curious to what the W4 claims are set to... I'm Single/1
    Allen Fieldhouse, home of the 2008 NCAA men's Basketball Champions! Go Jayhawks!
    Hail, Hail!!!

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