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Ah yes, welcome to the Republican Party
Hahaha. Taxation is theft
Yes, taxes are usually ~33%. That’s what I budget for. My monthly is 14k and my take home is 8k between taxes and 401k. You can reduce the amount that goes to taxes by increasing your 401k contributions
Yes. Every young person has this experience in their first job. realizing you have to pay taxes.
Keep voting for people who want to give away stuff for “free” and your taxes will continue to go up. Government is funded by tax payers so every check they write comes out of your pocket.
Ahhh yes all those free things. Free roads?!! Free fire fighting?!!! HOW DARE THEY
Bezos is a billionaire because people are willing to work for him for peanuts. You can double your salary by finding a new job.
What is your current role at Amazon?
When did I ever say my political views 🤣😭. I’m just trying to survive! So financial tips only please 🙏🏾
Putting aside politics, if your income is all/mostly from wages, the two biggest things you can do to reduce your taxes are (1) put more toward pretax / tax-advantaged programs like 401k, HSA, transit check type benefits and (2) move to a lower tax county, state or even country. Obviously neither is just free money. First one reduces your taxes but reduces weekly take home even more. Second one could increase your take home but only if you’re willing to move.
Lol, I live in California, and lose over 40% to taxes. Sure, I'd love to keep some of it, but I also love roads, and public transit, and parks, and free education through grade 12, and healthcare for the indigent. All of that costs, you know, actual money. I would like to be funding a few less foreign wars with all my money, but unfortunately I don't get to pick.
Vote for candidates who want to lessen taxes for the working and middle tax, and who want to tax billionaires. IGNORE the folks here who say we need to gut social services (“free”) programs. They do not have your best interest in mind and are looking out for their own bottom line (+maybe more likely their bosses’ bottom lines). We desperately need solidarity among the working and middle classes and we all need social security and Medicare/Medicaid. We need food stamps, unemployment, etc for those most in need.
Check your withholding, with gross pay around 57k annual your marginal rate in NY is 5.97% and federal is 22. Your effective rate should not be 27%, especially with the standard deduction
On the upside if you are overpaying taxes now, you will get a nice tax refund when you file.
Move to NJ or out of the five nyc boroughs to avoid the NYC tax
There’s a local/city tax in Philly too
Correction! The check before taxes was $1,107.61
What’s the effective tax rate?
Is your 401k traditional or Roth?
Got it. Looks pretty reasonable overall. Nothing jumps out as way off
Do you live in a city/village? If so consider leaving to a county town area. This would decrease your tax rate (if only by a few percentages) because we have to pay federal and state taxes, but if we live in a city or village there is also taxes for those municipalities. Longer commute is the price tho unless you can WFH.