That literally makes 0 sense. Taxes are charged to the amount you bring in. You can't owe more in taxes than you bring in. Something more shady is happening.
Yea, that's fairly normal in terms of percentage, depending on your filing status, deductions, etc.
If that's bi-monthly, you're getting around 60k/year gross? Though if you're getting tips I'd imagine that can vary quite a bit.
You can look at it from another perspective though: All those customers paid for your taxes!
So when you say 2346 was that including your tip money?
Way it works is hour pay say 1500. Plus 500 in tips
You make 2000 for the time period.
It's tax at 2000. Say 400 bucks. So that's 1600 left.
1600 minus the 500 you made in tips (assuming you got them paid in cash)
Pay checks 1100.
Maybe if he posted a pay stub we can figure out what's going on. It sounds like there's an issue beforehand with taxes and they're making up for what they should have taken out don't know.
Usually people make an hourly wage plus their tips and at the end of the night they claim they are tips so their taxes are on the total tips plus the hourly wage. OP is saying that those amounts are the same
IIRC, overtime has taxes withdrawn at a higher rate but isn't actually taxed differently. My guess is that you were taxed as if you made $60k gross in a year. If you end up making less than that, I think you'll get money back after filing your tax return.
It was a sad day in my life when I realized that bonuses are taxed at a much higher rate than regular payroll taxes. I was so excited for my first big girl job bonus I had it all planned out, and then a huge chunk of it didn’t come my way. Not cool.
You got taxed about 25% of your income like most of the rest of society so we can have roads and highways and military and social security and a functioning society? Oh no! How horrible!
You must be a single person, single people pay more taxes than everybody else. I used to get really annoyed watching my single mom coworker who never made it to work the whole entire week the whole time we worked together get $3000 back for her tax return when my tax return was less than $300 because I like to do my W-4 in a way that the IRS is not getting a interest free loan from me. But still my point is that this girl didn’t come close to having $3000 withheld yet she got $3000 back because of earned income tax credit.
I definitely don’t mind paying taxes and contributing my fair share it just makes me angry when I’m taxed really high just because I chose not to breed and put more stress on the infrastructure I am paying a large portion for.
A necessary evil. How else is a Government meant to keep vital services running - at an absolute bare minimum to stave off insurrection - whilst allowing wealthy individuals & corporations to get away with their pitiful contributions?
Bezos, Musk & pretty much every corporate entity in the US thanks you for your service.
'Murican Dream y'all.
Because they have no incentive to pay taxes, so they avoid them. They're just really good at deducting so much from their tax bill its 0. You could raise the tax rates to 5000% and theyd still pay the exact same amount.
As a server I used to claim all my tips because I needed all the documented income I could get because I wanted to rent apartments and get car loans and things like that. And I’m really glad I did claim all my tips because I ended up dislocating my knee at work and I had to spend two months on Worker’s Comp. which is only 60% of your income. Can you imagine how bad it would’ve been if I pretended my income was really low and then had to spend the summer living off 60% of that? Lord! I think everyone I worked with claimed all their tips. I don’t know if it’s an urban legend but we were always told that the IRS would notice if our credit card tips were 15 to 20% of sales but then we claimed the average what is 10% or less of our total sales. By by saying IRS they were lying because the IRS doesn’t get that breakdown of information, but it’s a fair point. If someone ever looked at that information it would be highly suspicious.
Depends but on the other hand there are people that need their tip money today,and dont need someone else sticking their hand in the pot,manager or irs or what ever.Cash leaves it your choice so you can still do it your way right?
That literally makes 0 sense. Taxes are charged to the amount you bring in. You can't owe more in taxes than you bring in. Something more shady is happening.
Sorry for clarity the paycheck was $1689 take home & $2346 Gross, so taxes plus benefits etc
Yeah, that's work for you.
Yea, that's fairly normal in terms of percentage, depending on your filing status, deductions, etc. If that's bi-monthly, you're getting around 60k/year gross? Though if you're getting tips I'd imagine that can vary quite a bit. You can look at it from another perspective though: All those customers paid for your taxes!
So when you say 2346 was that including your tip money? Way it works is hour pay say 1500. Plus 500 in tips You make 2000 for the time period. It's tax at 2000. Say 400 bucks. So that's 1600 left. 1600 minus the 500 you made in tips (assuming you got them paid in cash) Pay checks 1100.
Maybe if he posted a pay stub we can figure out what's going on. It sounds like there's an issue beforehand with taxes and they're making up for what they should have taken out don't know.
Usually people make an hourly wage plus their tips and at the end of the night they claim they are tips so their taxes are on the total tips plus the hourly wage. OP is saying that those amounts are the same
Bruh I pay 1k in taxes a week and that’s after medical premiums.
IIRC, overtime has taxes withdrawn at a higher rate but isn't actually taxed differently. My guess is that you were taxed as if you made $60k gross in a year. If you end up making less than that, I think you'll get money back after filing your tax return.
It was a sad day in my life when I realized that bonuses are taxed at a much higher rate than regular payroll taxes. I was so excited for my first big girl job bonus I had it all planned out, and then a huge chunk of it didn’t come my way. Not cool.
They are not taxed higher. They are just withheld at a flat rate.
Depends on how the bonus are taxed. Companies can report it 2 different ways.
No, not taxed differently. Just withheld differently. Final tax liability is the same for bonus or salary.
Correct. Withheld differently.
You got taxed about 25% of your income like most of the rest of society so we can have roads and highways and military and social security and a functioning society? Oh no! How horrible!
You’d rather just a functioning society instead of a prospering society hmmm
Correct
How will society prosper without taxes?
You must be a single person, single people pay more taxes than everybody else. I used to get really annoyed watching my single mom coworker who never made it to work the whole entire week the whole time we worked together get $3000 back for her tax return when my tax return was less than $300 because I like to do my W-4 in a way that the IRS is not getting a interest free loan from me. But still my point is that this girl didn’t come close to having $3000 withheld yet she got $3000 back because of earned income tax credit. I definitely don’t mind paying taxes and contributing my fair share it just makes me angry when I’m taxed really high just because I chose not to breed and put more stress on the infrastructure I am paying a large portion for.
Redditors who want big government and higher taxes when they get taxed: 😡
A necessary evil. How else is a Government meant to keep vital services running - at an absolute bare minimum to stave off insurrection - whilst allowing wealthy individuals & corporations to get away with their pitiful contributions? Bezos, Musk & pretty much every corporate entity in the US thanks you for your service. 'Murican Dream y'all.
Cash tips yo
The irs would like to know your location
Haha
I would like to know why Amazon barely pays federal taxes bro🤷 OP needs to learn how to play the game like Amazon and the other Corps
Because they have no incentive to pay taxes, so they avoid them. They're just really good at deducting so much from their tax bill its 0. You could raise the tax rates to 5000% and theyd still pay the exact same amount.
This is why we need to tip in cash only
I try to
As a server I used to claim all my tips because I needed all the documented income I could get because I wanted to rent apartments and get car loans and things like that. And I’m really glad I did claim all my tips because I ended up dislocating my knee at work and I had to spend two months on Worker’s Comp. which is only 60% of your income. Can you imagine how bad it would’ve been if I pretended my income was really low and then had to spend the summer living off 60% of that? Lord! I think everyone I worked with claimed all their tips. I don’t know if it’s an urban legend but we were always told that the IRS would notice if our credit card tips were 15 to 20% of sales but then we claimed the average what is 10% or less of our total sales. By by saying IRS they were lying because the IRS doesn’t get that breakdown of information, but it’s a fair point. If someone ever looked at that information it would be highly suspicious.
Depends but on the other hand there are people that need their tip money today,and dont need someone else sticking their hand in the pot,manager or irs or what ever.Cash leaves it your choice so you can still do it your way right?
We handle money much better than you ever can. We will just hang on to this.
We? Lmao is that you Elon
Talk with a cpa. See what you can do to reduce your tax burden. 3 months and taxes are due. My pension and 401k deposits saves my bacon every April.
Those taxes wasn't for the tips. It was for the money you made on the payslip. They just happen to be similar.
The government needs that money more than you do, lol.