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I have 2 offers from siemens and tcs .Siemens pays 2 L bonus as extra but ctc part both are same.Which one to prefer as the Location for siemens in blore and tcs can be chennai.Im currently at chennai.
If i accept offer from tcs and not joined there then i can get into tcs in future because of rehire policies .I still have 40 more days to LWD.
I am thinking to reject tcs and wait for some other better offer pay or last choice to join in siemens .Please share your view Im consufed here
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How many employees does KGS have in total?
Anyone wanna refer me to KPMG or EY? Lol
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Hotel rooms are so dry, it's driving me crazy
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Depends on your tax bracket.
I'd say you're unlikely to get any back - you aren't pulling down enough to max out FICA, so the withholding of FICA, FUTA, Medicare Part A and Federal Income Tax should come to roughly 40% all in. They withheld it at the rate determined by your regular salary and W4 config. Welcome to adulthood.
Don't asks PWC tax
Yes. Expect around 1-2k
D1 is right. If you got taxed at 40% for the bonus, and you should've only been taxed at 25% (based on your income), that would be ~1.5k. But since you're starting late in the year (assuming this is your first job and just started), you're only making ~40k this tax year. That should mean a lower tax bracket.
The answer is that nobody here knows the rest of your tax information so it is impossible to say, congrats on the bonus though
@d7, that's related to withholding not how much tax is actually paid which is a function of your marginal tax rate before you receive said bonus.
I started out in high net worth tax (fuck young me for being an idiot). This is a pretty common misconception, right along with people thinking making enough to put them in a higher bracket nets them less money as if all income is taxed at the same rate.
I pull in 80k so I'm not way up in the tax brackets, at least I don't think.
Probably. Bonuses are not taxed any differently. It's all just income.
I came from another firm though, brought on as an Exp hire.
Lol you'll likely never see it again
@D3, bonuses are taxed differently
@D7, that's simply not true
http://blog.turbotax.intuit.com/income-and-investments/bonus-time-how-bonuses-are-taxed-and-treated-by-the-irs-8003/
To everyone in this thread, fucking google it instead of spreading incorrect information
https://www.linkedin.com/pulse/myth-busted-government-does-tax-bonuses-other-payments-daniel-watkins
Turbotax is shady at, trying to pretend shit is complicated so people don't file their own faces with 1 w-2 and a brokerage statement
http://smallbusiness.chron.com/tax-liability-bonuses-vs-salary-25845.html
For the flat tax rate, the employee must pay 25 percent of the bonus to the federal government and then an additional flat tax rate to the state