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🔐In BNY offer letter, Annual bonus not mentioned. HR statement (might be fake) average performer getting 10% annual bonus on fixed salary every year. For good performance it's more than 10+ % #1 Is BNY gives annual bonus ? #2 If yes , How much average annual bonus & hike in BNY ? #3 What is eligibility for hike & annual bonus if joined in mid year ? BNY Mellon | Pershing
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There are too many variables here (e.g. filing as single, married, etc other income or deductions), but it doesn't sound wrong if the income was all from W2. Also, when you say owe, do you mean total tax liability, or how much she owes after withholdings?
My quick advice is for her to ask a bunch of questions to chatgpt, it is actually not bad on taxes 90% of the time. For example, here is a chatgpt response to estimating tax liability on a 100k W2 income:
If you earned $100,000 in W-2 income in the U.S. in 2024 and are filing as a single taxpayer with no additional deductions or credits, your estimated federal income tax liability would be approximately $15,009. Here's how this is calculated:
---
Step 1: Determine Taxable Income
Gross Income: $100,000
Standard Deduction (Single Filer, 2024): $14,600
Taxable Income: $100,000 − $14,600 = $85,400
---
Step 2: Apply 2024 Federal Tax Brackets (Single Filer)
The U.S. employs a progressive tax system, meaning income is taxed in segments at increasing rates. For 2024, the tax brackets for single filers are:
10% on income up to $11,600
12% on income from $11,601 to $47,150
22% on income from $47,151 to $100,525
Applying these rates to your taxable income:
1. 10% Bracket:
Income: $11,600
Tax: $11,600 × 10% = $1,160
2. 12% Bracket:
Income: $47,150 − $11,600 = $35,550
Tax: $35,550 × 12% = $4,266
3. 22% Bracket:
Income: $85,400 − $47,150 = $38,250
Tax: $38,250 × 22% = $8,415
Total Tax Liability: $1,160 + $4,266 + $8,415 = $13,841
---
Step 3: Consider Additional Taxes
In addition to federal income tax, you are also subject to:
Social Security Tax: 6.2% of gross income up to the wage base limit
$100,000 × 6.2% = $6,200
Medicare Tax: 1.45% of gross income
$100,000 × 1.45% = $1,450
Total Payroll Taxes: $6,200 + $1,450 = $7,650
---
Summary
Federal Income Tax: $13,841
Payroll Taxes (Social Security & Medicare): $7,650
Total Federal Tax Liability: $13,841 + $7,650 = $21,491
Please note that this calculation assumes no other deductions, credits, or additional income. Your actual tax liability may vary based on your specific financial situation.
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If she had 5 jobs, each employer withheld like they were the only employer. That led to withholding at too low a rate. She needs to modify her withholding.
She worked 5 jobs last year too so she had multiple w2s not all full time jobs so not sure if that could be an issue?
Sorry I mean she owes $10k after submitting her tax forms (no refund etc). She already paid like $20k in federal taxes throughout the year. She made $129k and she's single person, no dependents etc
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Yes that’s the possibility but no one knows until a tax accountant review her papers. There’s possibility to amend it still and to get extension
Was she an independent contractor and thus responsible for her own FICA?
As others have said if you have multiple part time W2 jobs they won't withhold enough, and if you have 1099 jobs you are responsible for your own withholding and payroll taxes.
Sure she works as a lab tech in multiple hospitals.