I am single i put $0 for additinal deduction I get monthly paychecks from amazon. It's 18k a month gross so 216000k a year (its actually more but for sinplicity sake lets day 18k a month. The point i am makin is still valid.) Thats puts me in a rate that is $45689.50 plus 35% of the amount over $20000 So i should pay $51289.50 or $4274.12 a month in paycheck (and since i make more than 18k a month it should be more than 4274.12 a month) But my paycheck says only $3452 is taken out a month. Why?? I dont want to owe any taxes at the ens of the year 3453*12 doent even add up to the fixed 45689.50 federal income tax for ppl making 200k and above
Are you taking state taxes and other deductions out of your gross income before calculating your taxable income?
No? It says 18k is taxable income
I don't know how your paycheck breakdown is presented, but you can have a figure for taxable income and then have federal, state, and city all taken out of it, and your obligation to city and state drops because they might tax not your taxable income in total, but your taxable income after other taxes are taken out. If you post a W-2 form we can try doing the math.
$216000 - 401k contributions - HSA contributions - $12000 standard deduction = a closer approximation of your taxable income. Run the numbers again with this. If you’re still not withholding enough, it’s your payroll providers fault for not withholding sufficiently, but still your responsibility to pay the balance.
You set your witholding rate lol
How do you have over $160k base? Edit: oh I bet you’re including sign on bonus. That’s where you fucked up. $3452/month in tax means your effective tax rate is just under 26% of $160k/year. That’s about the right effective tax rate (maybe even a bit high). As for where’s your sign on bonus tax? Assuming you’re getting it monthly, I have no idea.
Amazon's base goes upto 350k now, 160k was "back in the day"
I owe 13K this year thanks to my 130k sign in bonus that definitely didn’t have the right withholding
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Its not 35% of all look at tax brackets for more info
If you actually read you would know I didnt say 35% of all....