I am happy that I received a year-end bonus. However, I am not happy that more than half of it went to payroll taxes. 🙄

like
Posting as :
works at
You are currently posting as works at

What’s a bonus, and how do I get one?

likefunny

Sounds like you are living in Germany

like

If you’re maxing put your 401k during the year, it’s really 6 to one or half dozen the orher

like

Welcome to civilised countries: we pay tax.

like

G1: true, but Singapore is not an easy example for other counties to copy. It has so many high paying jobs and industries that it essentially borrows from that entire timezone (everyone prefers to do business in Singy). Add the fact a lot of their workforce is temporary labour who get very few state services (further decreasing the demand on the tax payer) and you get a sweet spot of a proper industrial tax haven (a tax haven where work does actually happen, not just accountants helping their clients launder money).
Interesting place, though. I studied there and loved it.

like

So, it went to tax withholding, not taxes. The IRS gives companies two choices for withholding bonus/special pay and they must follow the guidance. Offhand I think one option is 35% withholding.

Your taxes are computed when you file your return. Depending on your situation, you can always address your state and federal allowances throughout the year if the bonus withholding puts you into a situation where you’ll be receiving a large refund and you’d rather have the money in hand vs letting the taxing authorities have it temporarily.

I’m sure you enjoy the societal benefits of paying taxes overall... it does suck to seem to pay more on a bonus when looking at it on paper.

like

I agree. I should have just reduced my 401k contributions to zero but it’s all good.

dude. The us is nothing compared to Europe when it comes to taxes.

I owned my own company and paid more in taxes than I had made most years.

It sucks but I was also fortunate to be able to make that much for a little while.

Related Posts

If I did a direct rollover from old company’s 401k into an IRA, and the amount of the rollover for both Traditional and Roth was greater than $5500, do I owe taxes?

like

Anyone have any connections with Portland General Electric? I am a design technician that works remotely on pole replacement jobs (designing, creating construction drawings, estimating) based in California. My 6 month contract will be up with my company soon and I am looking for a better salary (I currently make ~$48k/yr). This is my first job in this field as I graduated from UP in 2020 and it took a while to land a "professional" job due to the pandemic.

like

98 almost 99k base salary in San Diego, CA not including the bonuses or OT… is this too low or reasonable?

like

Cab someone tell me what is a good salary for a business analyst based in Germany?

Reporting to company management?

like

I just finished my MBA and I am an electrical engineer of 10years experience. I received a job offer as a senior engineer from a an engineering company. I previously discussed project manager role with this company but they extend me a senior engineer position.
I would like to get advice on what to do, how to proceed, and have an idea of salary that i should negociate if i decide to go with the company?

likehelpful

Hello Fishes,
First time coming under tax bracket.
Can someone help me how to design my investments and other stuff so that i can save taxes?

1.I dont have seperate insurance till now.
2.I have mutual fund investments but not ELSS
3. I dont have any loans

Post Photo
like

What should I expect for the salary range for a “software development analyst” at a research institute in Boston with 2 years of experience

like

Hi All,
I recently started working as Associate Project Manager in CBRE project management in New York. I am paid $80,000 plus bonus. I think I am paid less, but just wanted to check with the group here on what you all think.
I have 4 years of experience, Masters in civil engineering.

like

Is 18 lpa for 6.8 years experienced Java developer appropriate salary? or am I underpaid?

like

Anyone work for Quadreal property group in Vancouver? A recruiter reached out to me with a $95k salary in finance, plus bonus. Wondering if the culture is good or if they are paying for people to stay.
Thanks for insights

like
like

Any Interventional Radiographers out there? If you're in the Midwest would you mind sharing your:

Payscale
Hourly rate
Charge for holding the pager
Any bonus for retention
or hourly increase for being short staffed

Thank you

like

Anyone know the salary range for associate level positions including senior associate level.

Dear fishes,

I have total of 9.5 years of IT Experience, with 4 years of experience in Service now. Can someone please help me to identify the correct market salary for my profile?

Hi All

What's hierarchy in Citi ? And can anyone get AVP for 6.5 yoe ? What should be salary? Tech stack: BA

like

Is 22lpa fixed a good offer from a product company for Ebs SCM with YOE 9 yrs.Role is techno functional and relevant exp is 7 yrs.

what is the average salary i can expect for oracle scm ebs and fusion profiles for 7+ yrs of exp

How much bonus is usually paid by Accenture in strategy? (In terms of percentage)

like

Does someone have information about Kearney Dubai. Would be highly interested in getting some insights about team events, benefits besides salary as well as hotels or flight classes. 

like

With all the turnover and the “great resignation” I’m having to get more aggressive on my pay matrixes and I may implement a retention bonus.


What formula for calculating retention bonuses have you seen be successful?

My first pass at this landed me at a 10% of salary after 9 months.

like

Should I ask about the salary range or budget during the HR screening call if they don’t bring it up? I can’t get a good estimate on all the online tools.

likehelpful

More Posts

Going through IUI treatments and hubby is more nervous than I do. He is taking action needed to support me but he is nervous, unsure and start question if we REALLY want kids. How do I help him and comfort him? 😳

like

What CTC we can expect for L5 ops.. non tech role...

like

Hey All - can anyone explain what would Google's computing resources mean especially in terms of supply chain management? Your inputs on this will be helpful in bringing me closer to my dream company. Thanks in advance.

like

recommendations for yoga class for a beginner?

like

My SO has ~100K sitting in a savings account. She’s a student so very low income. Does it make more sense to start a 401K + IRA and invest it in chunks of 25K? Or max out this years retirement and then just throw the rest in an ETF?

like

Hi Fishes,
My current ctc is 6.5lpa @ 5yoe, ETL testing.
I've an offer in hand from CTS with 11+.5 lpa.
Now I have cleared Accenture Technical round and next is HR round. How much can i ask as expected ctc? This is for Accenture's new office @ Coimbatore.
Please, any suggestions

like

Tech spec question: for personal use WYR...

MacBook Air 2020: 13.6”, 8gb ram, 256 ssd, + free AirPods gen 2 for 900

Surface Pro 7: 12.3”, 8gb ram, 128 ssd for 900

The apple deal is appealing considering I don’t have AirPods right now and the Mac setup is nice, but the surface pro being a 2 in 1 sounds alluring despite the lower storage

like

Looking for illustration agencies in NYC/NJ to help out with some product illustration. Any recommendations ?

like

Thinking of doing some last minute solo travel. Any recommendations for travel from the east coast without breaking the bank during the upcoming holiday season?

like

Has anyone gotten out of their AFM sig status? I'd love to hear about it if you have. TIA.

Best place to donate or sell used clothes in NYC?

Mix of clean designer and non-brand pieces

like

The difference between Trump and Biden's morality is night and day

Post Photo
likeuplifting

Hi All, Looking for job change having 4 years of experience in Automation Testing and Serving Notice Period. Refer me in your organization for the same..

like

Making the move to SF from FL. Any tips for the cross country moving? Anything you wish someone had told you beforehand?

like

So she wants attention for the old pic, and she wants attention for the new pic. I don’t know which is worse, the post or the effusive responses.

Post Photo
likefunny
helpful

Have you ever gotten so bored (or lonely) that you create 2 social media accounts and start talking to each other?

funnylike

I was given a tentative offer for a job at a government hospital. The salary they are offering is lower than what I'm making now. For government jobs with a defined GS level salary on the job posting, do they have a wiggle room for salary negotiations?

Will rent continue to go down?

like

I am planning to buy and sell perfumes, bags, and shirts. Anyone who knows a store or online shop where i can buy authentic and yet with good deal prices so I can get better markups. Thanks in advance

like

Additional Posts in Consulting

So Accenture gave me a verbal offer but is taking an eternity to get back to me with a written offer. Has anyone else experienced this?

funny

Asked my coach who to talk to regarding asking D to match an offer and he told me not to even ask (for reference I would go to PPMD but just started new project and have no relationship). Who should I take this up with?

likefunny

Has anyone heard of TCS for healthcare consulting?

like
likehelpful

Bumped into a cute guy in the hotel elevator... What are the chances of running into him again? 😕

like

Anyone work in sports strategy? For a professional team? If so, can you provide color on WLB, actual weekday hours (besides games), monthly health insurance premiums? Thanks in advance!

like

Did you make internal transfer from other offices to US offices? How did you make it? A lot of networking with the US office? Would the home office happily let you go?

like

Can someone explain this tendency to shit on backpacks? More than half of my team uses them and I've never seen it looked down upon by a client or peer until I joined FB.

like

Van Jones and Paul Begala from CNN? Thoughts..

like

What's the monthly premium partners pay for removing anonymity from this app?

like

Has anyone taken out a residence loan against their 401k ? interested in how you used it and what happens if you leave the firm before it is repaid

like

Planning to do a PRM or FRM qual. How useful is it to move from Big 4 Risk and reg consulting to industry? Finding it hard to get anything other than non-PM roles

like

There's a guy here who thinks he's like fucking amazing. Tells his friends, I mean the flight is delayed but we can check where it's coming from. Yes. Go ahead. Use the App. "What's ORD?" Yea

like
like

For those traveling the first week of January, are you going Tues-Fri? Or still Thursday?

like

Looking for a referral for a role In KPMG advisory. Can anyone hook me up?

like

Since we’ve all been working from home for months now, what’s the best office chair out that y’all are using for our long work from home hours? Looking to invest in a better one than my ~$150 one from Amazon.

like

Cute how concerned lateral hires from Deloitte are about utilization. Relax! Welcome to the free world. 😀

like

What's the best way to lie and complain so you could get free points from hotels and flights? Need to get 12,000 more to get an extra SPG night by mid-January. Thoughts?

like

Applying for MBA programs in Fall 2021. When I matriculate I’ll have 7 years of healthcare consulting experience. Will this give me a competitive advantage when I apply and will I be among the oldest students by far?

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Send download link to your phone

OR

Scan your QR code to download
Fishbowl app on your mobile

By continuing you agree to Terms of Use and Privacy Policy.

Messaging rates may apply

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal