Kid opens first paycheck..learns about taxes, lol

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He was so happy and proud, then BAM!

lmao that seems almost too perfect, but I don't think that kid is a good enough actor for it to be fake.

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Damn. That is the hard lesson we all had to learn. You do the math and expect a certain amount, make plans for your windfall, then you see you've been "finessed"!!

 

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I pay more every 2 weeks in federal income tax than his gross pay. And I think I claimed 4.

So this young adult male doesn't know about taxes or social security?

the biweekly nut kicking,  the gift that just keeps on giving.

Wait until he makes a bunch of overtime and it kicks him up into the next tax bracket. You expect a fat check and then see you barely made any more than you would have normally. That's real disappointment. 

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But I owe Marcus mo money than dat!

mongrel 911 -

So this young adult male doesn't know about taxes or social security?

That's why I want to think this is fake, but could just be a sad reality that is that uneducated 

2 things certain in life kid.... 

MojoSoDope -

Wait until he makes a bunch of overtime and it kicks him up into the next tax bracket. You expect a fat check and then see you barely made any more than you would have normally. That's real disappointment. 

 I remember about 15 years ago I had my Xmas bonus coming and I cashed out 160 hours of PTO on a check. I was expecting close to $7200, with taxes and everything I took home about $4K. I wanted to cry.  Bonuses really get hit hard. 

kneedy -

I pay more every 2 weeks in federal income tax than his gross pay. And I think I claimed 4.

Glad you are doing better than a kids first check at his first job! Awesome! Good stuff man, we're all proud of you!

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boxing wiz -
MojoSoDope -

Wait until he makes a bunch of overtime and it kicks him up into the next tax bracket. You expect a fat check and then see you barely made any more than you would have normally. That's real disappointment. 

 I remember about 15 years ago I had my Xmas bonus coming and I cashed out 160 hours of PTO on a check. I was expecting close to $7200, with taxes and everything I took home about $4K. I wanted to cry.  Bonuses really get hit hard. 

Oh that's rough too. We used to get big Christmas bonuses every year if you were put in the top tier by your manager for how hard you worked. 6k checks used to turn into less than 4k quick. 

Good family teaching from what appears to be a good family

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I get a big chunk of my compensation in the form of RSUs, and let me tell you, those bastards are taxed! Basically I take half the stock when all is said and done with a little cash because it's easier to auto-sell portions to cover the taxes.

The additional kick in the teeth is you'll still be paying capital gains taxes down the road if you cash out any others.

I get them every 6 months right now and have such mixed feelings lol. Happy to get a big amount at once and then pissed at the taxes.

But I have my social security number!

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mongrel 911 -

So this young adult male doesn't know about taxes or social security?

looks like a hs kid so probably 16 or 17.  i would imagine he is going to educate himself now. 

mongrel 911 -

So this young adult male doesn't know about taxes or social security?

Most kids know they exist, but don't know how it works. Hell, most adults I know don't really know how it works.


I bet if you asked a group of people, less than half can tell you what FICA means and why it exosts.

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Braf Zachland -
kneedy -

I pay more every 2 weeks in federal income tax than his gross pay. And I think I claimed 4.

Glad you are doing better than a kids first check at his first job! Awesome! Good stuff man, we're all proud of you!

Congratulations!  You're a grown man making more than a kid that doesn't even know what taxes are!  WIN!!

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