Get it off your chest thread

Discussion in 'The Club House' started by SHSBulldog06, Feb 26, 2010.

  1. SHSBulldog06

    SHSBulldog06 New Member

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    I just took a new job about 3 weeks ago, well I was given a relocation/bonus and just recieved it today. The bonus was 10k. When I first saw the pay stub I was in a very good mood...until I saw that Uncle Sam didn't just have his hand in it...he had his both his f-in arms in it and raking money out of it. 40%... I mean come on seriously? They took 4,000 dollars out of it. And where the hell does this money go? My guess is to some 645.8 lb man sitting on his *** and can't work because he has sat on his *** too long to begin with? Something seems very wrong here, its more like I got a 6k bonus and Sam got a 4k bonus to pay their own payroll so they can take more money later. I mean I.M.O.F.P.O.D.O.(in my own f-in pissed off damn opinion), this is essentially the same thing as me renting an apartment right...and a friend comes over and gives me 10 grand for me helping him out, and the land lord comes over and grabs 4k of it since he keeps the structure and all of the apartments in decent shape. But I already pay him every freakin time I get paid...does that sound right? Sorry guys if I ticked anyone off, just wanted to vent. Maybe someone with a decency in the government will read this one day and a light bulb flickers on....doubt it though, I think that a oxymoron or something aint it? decency and government in the same sentence.
     
  2. Gojubrian

    Gojubrian New Member

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    Yep, bonuses are taxed heavily, sorry. :(
     

  3. skullcrusher

    skullcrusher New Member

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    Depending upon your year end income, you will likely see some of that back. Now, what guns are you gonna get. 6k will get you some very nice ones and plenty of ammo to boot. Sorry if I don't feel for you, but hey...:D
     
  4. orangello

    orangello New Member

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    Out of curiosity, how many withholding allowances did you claim on your W4 form? They should've had you fill one out during the hiring process. 7.65% went to Social Security and Medicare programs; doubt you'll see that money again. I'm wondering if they withheld for state income tax as well; they probably did, else they held out over 30% for federal income tax. That seems a bit much, unless you are very well paid.

    I think of it as paying to be able to complain. If somebody isn't paying in and isn't a retired person who did pay in when working, time to STFU & sit down.
     
  5. CA357

    CA357 New Member Supporter

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    That sucks! The only way for this Country to go is to abolish the IRS and go to a flat tax.
     
  6. Yunus

    Yunus New Member

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    I feel for ya, but yeah been there and had the crazy high taxes taken out. Like was already posted though, it's likely you will get a portion of that back, especially if you own your own home.
     
  7. skullcrusher

    skullcrusher New Member

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    Ok, Bulldog. You got your sympathy....:D

    NOW, what firearms are you gonna buy?? :p
     
  8. skullcrusher

    skullcrusher New Member

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    Ok, I gotta get this off my chest.

    The coverage of the winter olympics has been hit and miss this time around. But my biggest gripe is the total lack of showing the medals awarding during times where the youth are up and watching. What's with showing them after midnight? I think it is important for the youth of our country so see those ceremonies. Jmho.

    If you watch the awards ceremonies at all, you will notice something that I think says plenty. Almost always when an American gets the gold and they play The Star Spangled Banner the American athlete gets all misty and sometimes drawn to full tears. That does not happen so much with athletes from other countries. Especially those countries that are not nearly as free as the US. Just my observance.
     
  9. c3shooter

    c3shooter Administrator Staff Member

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    Ref: Raped by the IRS-
    1. I feel your pain
    2. No, the gubbmint is not gonna listen
    3. Ummmmm... There is no 3.

    My associated rant- my lady and I worked hard, paid our bills, raised our kids. I spent nights in school so I could advance, instead of staying home, drinking beeer, and watching the tube. Have retired from a couple of careers, and still working. Have reached a point in my life that I make REALLY good money. I now have to talk with my employer about deferring pay- since the IRS and State grabs nearly half of what I make. Yeah, I will work until about the end of June to give money to my no-good lazy uncle. We HAVE no deductions other than taxes and charity- our stuff is paid for, so no mortgage deductions- and they pretty much pulled the rest a bit at a time.

    When I retire for good, I plan to sell everything we have, convert it to gold, silver, and platinum, move to the Carribean, buy a 48 ft motor/sailer, and become a gun runner.:p
     
  10. SHSBulldog06

    SHSBulldog06 New Member

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    Nope, no guns for now...gotta get a house to put them all in now or the ole lady is gonna be pretty pissed and will probably kick me out of the cardboard box we're gonna have to live in, then the buying of guns can commence. Sure have been eyeballin' a Stainless Raptor II pretty hard. And Orangello...2 allowances (won't let me allow for the dog) and 202.74 state and 3,788.47 federal.
     
  11. saviorslegacy

    saviorslegacy New Member

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    I haven't even gotten a job yet and I already don't like the IRS.
    Man, why does something tell me that taxes are going to go up in my life time? This is gonna suck so bad. -_-
    I will however, pay cash for everything. So I will never fall into the credit card trap. I plan on saving everything I make and living without for a long time. I have grown up this way so I already understand this.
     
  12. gorknoids

    gorknoids New Member

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    Welcome to the wonderful world of being "Your Brother's Keeper". And it's only going to get worse. I'm not gonn'a quote figures, but my military retirement goes to other people.
     
  13. WDB

    WDB New Member

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    There is a HUGE difference between bonus and reloacation pay. Something you need to sort out and get right before you file your taxes. If it was a bonus then expect to take that hit (40% seems to be a strech unless your making more than 250k a year). If it was relocation money with documentation it will be about 17% based on how much you make and the detailed expenses you provide. Contact a good tax prep company and sort it out.

    If your making the 250k+ that puts you in the 27% range suck it up, still 40% doesn't sound right unles your making millions.
     
    Last edited: Feb 26, 2010
  14. SHSBulldog06

    SHSBulldog06 New Member

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    Oh, it is relocation... didn't realize I would get that much of it back. And I wish I was making 250k/yr...don't think I'd be worried about that pocket change then.
     
  15. orangello

    orangello New Member

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    They withheld $3000 for federal income tax. $765 for the SS & Medicare that will be broke long before you get to collect it. Seems like they withheld at the rate for a married person making about $350,000/year to me, more or less, bummer; i guess they didn't look at that w4 for the "relocation pay". With those round numbers it doesn't seem like you are being reimbursed for your expenses, so they basically seem to be giving you some extra salary for relocating more or less.

    You should keep track of all of your moving expenses for next years tax work & YES, get some help with that return. That is the way you will have a chance to get some of that withheld federal income tax back. I recommend finding the older CPA near the court hose in the less fresh looking office; they don't always remember to raise their rates over time. The good thing is unreimbursed moving expenses come off on the bottom of page 1 on the 1040, not the more limited Schedule A for the itemized deductions like mortgage interest, medical expenses, charitable donations and that kind of crap. Read over this publication on moving expenses, so you will know what to keep up with: http://www.irs.gov/publications/p521/ar02.html#en_US_publink1000203511

    Tax time next year should be interesting for you. :)

    edit* On the big + side, it certainly beats the heck out of severance pay.
     
    Last edited: Feb 27, 2010
  16. Jpyle

    Jpyle New Member

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    Unfortunately your hard work and investment in your own career enhancing skills does not entitle your to keep the benefits of your labor in the eyes of a majority of people (Obama voters) in this country. You are just "fortunate" and have an obligation to give up some of your hard earned gains to provide for those less fortunate, i.e. too lazy to find their own damn job.
     
  17. Jpyle

    Jpyle New Member

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    Aren't bonus payments that fall outside normal payroll hit with a flat 30% withholding? If not by statute it may be the company policy to reduce excessive calculations on irregular payroll disbursements. That plus SSI and Medi can get close to 40%. The excess will be refunded in 2011, Uncle Sam thanks you for the interest free loan...
     
  18. Rick1967

    Rick1967 Well-Known Member

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    Sad, US Government has become Robin Hood! It really pisses me off. I make really good money. I have been the General Manager for the hotel that I run for 10 years. I have been in the industry for 17. I am one of the best at what I do. I am worth every penny. And yes I am full of myself. But every time I hear about someone getting a $5,000 refund when they only paid $1,200 in taxes because they get the earned income credit I cant' believe it. That is the same as reaching in my pocket and taking my money and giving it to them. I don't mind somebody poor not paying taxes. But, they should be given a refund of money that they never paid!!!!
     
  19. russ

    russ New Member

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    Several years ago when the large international corporation I worked for decided to "outsource" my job (as well as the other 250 people working at my plant), I ended up with a pretty nice separation package and it too was taxed at roughly 40%. I didn't get a very big chunk of it back at tax time either. And FWIW I'm in the $45K tax bracket, not the $450K bracket.
     
  20. gadrooning

    gadrooning New Member

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    Started my own business about 9 years ago. Fumbled around with taxes and tax laws till I finally hired a good cpa. Had five years of taxes to redo. Got mega penalties for not filing on time and a crap load of others. Anyways I got taxed almost 50 percent of my income when I only had to pay between 15 to 20 percent due to my type of business. I still had to pay back taxes from five years ago that I under paid, but the good ol IRS won't give me back my 50K that I over payed in 2006, because you have a 3 yr time line for amending taxes. I'm still trying to get back what I over paid for the last two years. Especially since due the the economy my income has dropped 90 percent since 2006. Still fighting, still struggling. I feel you. Things aren't fair, but sometimes you just have to role with the punches.