When I first started my full-time job, I was surprisingly shocked by how much was taken out for taxes. I've worked since I was 16, but it isn't as significant when you're making $6/hour compared to a full-time salary.
Now almost 2 years later, I still get sticker shock every now and then with regards to taxes. Today I looked at a pay stub for my annual bonus that I am getting tomorrow...1/3 was taken out for taxes!! That is just crazy to me! God only asks for 1/10!! Who does this FICA guy think he is??
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4 comments:
26% FIT on bonus' is mandatory. and on top of that of course is SS & MC. A bonus gets hit hard.
That is crazy! Thanks for the actual knowledge of how it all works MC!
MC- I thought your comment was a some kind of joke- shows how much I know about working in the real world. Glad that are smart people like you and emmy out there :)
I can totally relate. Chaz got a bonus in Novemeber and I made him go ask the payroll department if it was a mistake that they took out too much for taxes. Yeah...apparently, it wasn't a mistake...
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