The Conservative Cave

Current Events => General Discussion => Topic started by: Texacon on July 25, 2018, 11:45:20 AM

Title: Taxes ...
Post by: Texacon on July 25, 2018, 11:45:20 AM: I just got a $500.00 bonus for referring people to the company I'm working for. I knew the check was coming and figured it would be around $400.00, boy was I wrong! LOL I should have remembered that when you get a bonus so does the government. THAT is something I would love to see Trump fix.

Out of the $500.00 the federal government took $165.00.

KC
Title: Re: Taxes ...
Post by: docstew on July 25, 2018, 12:50:27 PM: Didn't you ever get a reup bonus? They take about 28% of those...
Title: Re: Taxes ...
Post by: Texacon on July 25, 2018, 01:25:11 PM: Quote from: docstew on July 25, 2018, 12:50:27 PM
Didn't you ever get a reup bonus? They take about 28% of those...

No sir, I sure didn't.

I also get a quarterly bonus at my job and they take the same 33% of that bonus. These people that claim our taxes are too low either don't pay attention, or they don't pay taxes. Either way they're not paying.

KC
Title: Re: Taxes ...
Post by: Old n Grumpy on July 25, 2018, 05:42:49 PM: Those who complain aren't paying taxes, they are getting your tax $$$ and want more of it.
Title: Re: Taxes ...
Post by: Ralph Wiggum on July 25, 2018, 06:10:03 PM: Quote from: Texacon on July 25, 2018, 11:45:20 AM
I just got a $500.00 bonus for referring people to the company I'm working for. I knew the check was coming and figured it would be around $400.00, boy was I wrong! LOL I should have remembered that when you get a bonus so does the government. THAT is something I would love to see Trump fix.

Out of the $500.00 the federal government took $165.00.

KC

Some companies will factor the tax implications into your bonus. For example, if the honchos want to give you a grand, they can make it approximately $1400 with the taxes then withheld and one would receive a check or direct deposit for about a grand. Smart companies, that is.

For my sideline gigs, receive a 1099 at year end. No taxes are taken out, but I intentionally sock away about 1/3 of it just for taxes. On the tax return, it is bundled along the regular job where taxes are clearly withheld. It is a pain, but proper preparation for the tax liability has gotta be done.

Consider it a good problem to have, so at least you did get some "crumbs". :lmao:
Title: Re: Taxes ...
Post by: Eupher on July 26, 2018, 01:42:04 PM: As long as we have a Congress that can't reel in its spendaholic ways, we'll be paying through the nose for their perks.