I currently live in NY and work for Amazon. I get paid weekly. I make about $910 a week. Here’s my check breakdown. I just feel as tho taxes are too much. $300 a week?! Is this really right? Or is there something I can do?

My tax returns is usually just 3k. I also feel like that’s wrong.

I really want to up my 401k distribution but idk.

BG : Single , no kids.

Post Photo
like
Posting as :
works at
You are currently posting as works at
Highlighted IconHIGHLIGHTED

Ah yes, welcome to the Republican Party

like

Hahaha. Taxation is theft

like

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

like

Yes. Every young person has this experience in their first job. realizing you have to pay taxes.

like
Recent IconRecent

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.

like

Ahhh yes all those free things. Free roads?!! Free fire fighting?!!! HOW DARE THEY

like

Bezos is a billionaire because people are willing to work for him for peanuts. You can double your salary by finding a new job.

like

What is your current role at Amazon?

like

When did I ever say my political views 🤣😭. I’m just trying to survive! So financial tips only please 🙏🏾

likefunny

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.

like

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.

likefunny

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

like

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

like

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

like

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.

Related Posts

After listening to the Mike Saylor podcast with Lex Friedman, it made me reconsider my notions I had about BTC layer 2. IMO ETH has thoroughly eaten BTC’s lunch from a development/dapp perspective. I’m 50/50 allocated in both because as Mike says BTC is durable digital property while I see ETH as the platform for application functionality. Would be interested to hear other’s takes. At the core of it, I’m not sure myself and others will ever want to spend BTC, even if fees were negligible.

like
like

Hey people! Curios, what was your first splurge purchase with your big law money. (Assuming you have student loans, mortgage/rent etc.)

like

Friends what are the benefits of green card for parents if they do not want to relocate? Anyone else faced similar situation

like

Need help looking for a 1 bd, I’ve tried domu/Zillow but none of the options are appealing. Should I be using a realtor?

Budget: $1,200
Areas of interest: LP, Lakeview, Wicker Park, Old Town, Streeterville, West Loop, River North

like

Pwc salary structure? Benefits

Urgent

like
like

What are AFS’s education benefits - do they provide free udemy / learning tree accounts for self study?

like

Hi All,
For those who need permanent remote openings check epam anywhere..
https://epa.ms/epamremotejobs
Epam anywhere provides..
 • excellent package with health insurance, certification reimbursements
 • support for relocation and project rotation
 • learning and growth opportunities
 • periodic hike
 • fixed or flexible pay structure offers
check here and apply if any Interesting opening is there.

like

Is 80k cash + 20k company share a good deal for a junior dev role in the bay area?🙏

like

Hi All,

I want to know if it's a good idea to foreclose a home loan, I have like 14 lakhs for 11 years... Initially it was 28 lakhs for 30 years, I brought it to this amount in 2 years. Unable to weight the pros and cons. Is it good to foreclose or leave the loan to go on and start investing the money

like

Hey guys,

is it safe to move to healthcare organization which is established in India only 2 years ago, but in US it was established around 160+ years ago, keeping in mind on recession and job security?

Please help me on this!!!


Fractal Infosys Tata Consultancy IBM Wipro Nagarro

like
like

Two diff questions, but posting together :
1. Anyone still positive about Chinese ETFs long term? They are down significantly but I'm wary
2. IG Bond ETFs - would you invest in the current market for long term hold? Why/why not? Which one do you recommend looking into?

like

I’ve worked for a medical consultant company in Houston the last two years doing various things from billing to patient care to even doing medical records request. I have been looking for a job preferably where I can put my masters in healthcare administration to use but most of the jobs I went to apply for I qualify for everything but the management and supervisory years.

like

I'm a young professional finishing my first year of my career. Last month I opened a brokerage account & invested $4000 in the stock market. I'm planning to invest at at least $2000/month every month now with the goal of creating a passive income stream. Do any of you have experience with a dividend growth strategy? How did you get started?

like

Goodbye XRP! Thanks for the awesome gains and good luck hitting that absurd $100B market cap 😁

like

Hello Guys, I got offer from Mphasis as data engineer and client is HP. Should I join? How is growth and employee benefits at Mphasis. Please help.

like

Big 4 junior level feels while trying to get promoted with no raises, no bonuses, no travel benefits, and 60 hour weeks with no separation between work/home “but you should just be happy you haven’t been laid off”

Post Photo
likefunny

** Very Important **

Tax declaration last date is on 15th May 2022.

I would like to know do I have to submit the investment documents now ? Or later in the month of March 2023 ?

Please let me know. Thanks.

like

More Posts

What’s EYs investment banking practice like? How’s the WLB/experience gained? Is it worth it?

like

Infosys offer 40lpa incl VP. Current company is retaining with 36lpa fixed. Will Infosys revise offer if I show revised compensation from current company. 12yoe/AEM Infosys Tata Consultancy Capgemini Wipro Cognizant IBM Accenture

like

Just found this NFT bowl. Looks dead in here. Let’s get it rockin

Mr. Schwarzenegger was the keynote speaker at the Game Changers summit. It was a great honor to meet an idol, a man that inspires me as an immigrant. I captured his effect on me in my book, “The Flavor of Favor: Quest for the American Dream. A Memoir. “
Here’s the excerpts:

“It would take me another ten years to retrace my first foray into the city of Columbus. By that time, I had completed law school and had become a lawyer….

Post Photo
like

What are the best pregnancy apps you’ve found? Thanks!

Actually, I gave Interview for BackEnd Developer @ Itilite. I was selected in the interview process (2 Tech DSA Based + HR) and got a mail stating that our interview panel is really impressed with your domain related expertise in order to proceed with offer negotiation please submit your documents. Now after 2-3 days of document submission, they came up by saying they cant move forward with my candidature.

I am still amazed how can they do this after asking my documents.

like

Hi Fishes,

What is the average salary in Germany for SAP Integration Architect with 11 Years of Experience

like

How is Salary Hike in Lowe's? How much percentage can we expect?

like

My bank makes you fill out a form if you want to work in the office for each individual day. It’s largely empty from what I hear. What are the risks if I were to go in and “borrow” an office chair for my new apt? How about a monitor?

funnylike

Hi fishes I got a call from @cvent but there is a bond of two yrs and hr asked for 80k cheque not sure what to do interview is aligned for monday. And salary hike depends on that.

Does Cornell have an NYC campus for their MBA program?

like

Hello,

My name is Aaron Silverberg. I am a fish wandering down stream looking for a school to grow with.

I am in search of a full-time job in the digital marketing industry to help build on my entrepreneurial and marketing interests gained from the pop-up pizza shop I started in the summer of 2020 “Sadies.” 

I am interested in building a brand, creating a following, growing a community and seeing how that brand maintains its image.

Hope to get in touch and have a nice weekend!

like

Any good books to read this winter break? On leadership, digital, or any autobiographies?

like

Is this layoff?Amdocs

Post Photo
helpful

Has anyone been to or knows about those glass igloos that you can stay in - I think in Finland? - to watch the Northern Lights? My dream is to see the lights and want to do it in the best and most magical possible way

like

Can anyone say the hike percentage and bonus for TC at PwC AC for Associate 2 level?

like

Hi can someone please help me with my in-hand salary.

Thanks a lot.

Post Photo
like

What’s the best sign off party/event for a big-ish team with a large budget (about $150-$200 per person limit)?

like

UI Path vs BluePrism vs others? What's your favorite RPA tool?

like

The language is that of Mordor, which I will not utter here...

Post Photo
likefunny

Additional Posts in FIRE Financial Independence Retire Early

Has anyone used Motley Fool’s stock advisor program, and found it helpful and worth the membership access?

like

Thoughts on ARK innovation ETF

like

The unending cycle is for real. Reached my LeanFIRE number 2 months ago, yet I don’t feel satisfied. Still reaching for the stars… when will this human desire end?

like

Anyone have a net worth/budget excel tracker they want to share?! : ) prefer not to use the apps.

like

Vtsax vs fxaix?

like

Anyone investing in index annuities? Can someone explain why this is beneficial?

like

Significant other and I crossed the combined $1M net worth mark this quarter! Mostly in RE and 401k so we will not be FIRE-ing but still excited to be in the 7fig club.

Sorry, need someplace to celebrate and you guys are awesome.

likeuplifting

Hey all! I’m 30 years old. About to close on a house with a 5.75% fixed 30 yr mortgage. If you were me and your goal was to maximize your net worth by retirement, would you put a few thousand dollars extra into paying down the house faster or invest that extra money in the market? The 5.75% doesn’t feel that low but also not crazy high so I’m torn. Thoughts? 🙏

like

Sharks! I’m 33, currently working as a Java Architect (11.6 YOE, 40 LPA INR). I’m planning for retirement at my 40. Currently owning a house worth 1 Crore INR where I’ll be closing my home loan by this August. Please suggest diversified options of Investment for my retirement. I don’t have any investment till now (except the house) as I used my whole income to close off the Loan which I took in 2019.

like

What’s everyone using instead of Robinhood? I just learned of WeBull recently but am not sure it’s for me.

like

Have 20k, what’s a good small business to start with this fund? Serious question here

like

I broke through the wall in 2020 and feel like I blinked and it is 2022. I have been saving something close to 75% of my take home and dumping into ETFs. I feel like I want to branch out into real-estate but never lived anywhere more that 3 years. What would you do? I have cash to put a large down payment to avoid the high rates but am scared I have no roots and will move in another few years.

Post Photo
likeupliftingfunny

Hi, I repaid my student loan today and feel awesome. Want to start saving for a home ($350-400k). Any suggestions if I should invest in something short term or a Roth IRA or let it sit in my bank?

likeuplifting

I’m 36 and I recently reached a net worth of 1 million dollars. I thought I was doing good but then I see other people with several millions and can’t help but wonder how they got there.
I feel I’m doing everything I’m supposed to (I save, I invest, I max out my 401k, IRA, etc...).

What can I do to upgrade my game and reach those higher numbers?

likesmartfunny

Real Estate Rookie podcast thirsty for subs

Post Photo
likefunny

What’s a good, practical tax book to read for someone who knows nothing about taxes? I feel like I should familiarize myself with them but don’t know where to start/find the topic very overwhelming and dense even as a finance attorney. Welcome to other beginning finance book suggestions too! (Already read Kiyosaki and Ramsey)

like

Finished Rich Dad Poor Dad and appreciate the emphasis on creating alternative cash flows (vs. just income). Does anyone have book recommendations on creating wealth? I've focused heavily on income + 'safe' investing, but intrigued to learn more.

like

Are my crypto profits taxed?

Well yes. Crypto is taxed like stocks & other types of property. When you sell for a profit, you are required to pay tax on the gains. It’s called capital gains tax.

like

TC New grad Software Engineer
Base: $110k
Sign-On: $35k
RSU: $120k/3years
Relocation: $20k

Starting fresh with virtually $0 savings and $0 worth of financial literacy, whats the best course of action? any advice is greatly appreciated!

like

Hi! Pretty new to this concept, and really early within my career (only 3 months in). Currently on my company’s 401k plan, contributing well beyond the minimum to receive a match, and maxing the amount I can put in right now (25%). Dabbled a bit in options and stocks in general. Any advice, guides, or starting places you would give someone in my shoes? Thank you in advance!

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

Scan your QR code to download
Fishbowl app on your mobile

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