• Apytele@sh.itjust.works
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    5 hours ago

    My new job came with a 10k sign on bonus and I just got the first half 3 months in. I have to pay the whole thing back if I leave within 2 years. I was planning on keeping all of it in high yield savings in case I need to slap it back down on the table and run, and best case scenario at the end I have a house downpayment.

    Y’all. I got taxed more on this check than I made in working hours. I got the 5k bonus and 3k of working hours. I paid over 3k in taxes and didn’t even net 5k this check. It was 4900 something.

    I understand that I’m not “poor” anymore but I’m still paycheck to paycheck (I wound up just paying off some credit card debt; I’ll get a loan if I need to run). More importantly I have a real job. I’m not some marketing desk jockey or a landlord or an MLM “entrepreneur,” I’m an inpatient bedside nurse. I don’t want to sound full of myself but how does Jeff Bezos not pay any taxes and I’m over here paying 37%???

    • RagingHungryPanda@lemm.ee
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      5 hours ago

      Taxes are usually taken out using the monthly amount like a yearly amount. You’ll probably get a lot of it back when you pay taxes for the year.

    • tyler@programming.dev
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      4 hours ago

      You should reduce your tax amount that your company is paying for you to the IRS. You can calculate it yourself and tell your company to modify it.

      • nfh@lemmy.world
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        43 minutes ago

        Form W-4 is the paper you’re supposed to use, they may have a digital version they prefer, but that’s the thing to look for. You can adjust your withholdings that way.

        • tyler@programming.dev
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          27 minutes ago

          Withholding. That’s the word I was looking for. I shouldn’t be on the internet seconds after I wake up.

    • Grimy@lemmy.world
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      4 hours ago

      I would check with your local laws but it’s very rare those kinds of policy are enforceable. If you need to pay them 5k to quit, it’s akin to slavery.

      • nfh@lemmy.world
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        40 minutes ago

        No, they’re actually pretty common in certain industries, and definitely enforceable, at least for sure within the state of California. If you sign a contract that says you get a certain amount of money for starting a job, contingent on working for them a certain length of time, that’s typically paid out on day 1, but you have to pay it back if you leave early.