Both of us are in Cali, single, just started work in the us (no previous tax filings), same age, F1 VISA My colleague @ Apple 12% federal tax @ 152k base Me 21.5% federal tax at 165 base Disclaimer: Got my signon bonus with my 1st week paycheck => fed tax was higher. But smartasset indicates that 152k will get a federal tax of 19%, so I really dont know how he's getting 12%. I had to personally look at his payslip to believe it. Its not about him being taxed less, but I want to know -> Have I messed up somewhere? Isnt 19% the standard federal tax rate for 150-160k base? I am really getting anxious about this since loosing unnecessary money to tax is the last thing I want. Please let me know if you guys can make sense of this. Edit: I remembered I just filled my W4 right after my first paycheck. Is this why I was taxed more? Also, now that I have adjusted my tax, can I expect to get the tax refunded in next year's tax returns? TC: 245k + 40k signon #tech
Dude employer deduction is based on W4 you submit to them . If you are paying more, you will get refund . Thatâs tax 101
He probably just has less money withheld. He will probably have to pay taxes when he files.
Adjust your w4. Better to owe than get a refund.
I make more than you and my effective tax rate last year was 14%. Married, kids, non-taxable retirement accounts, 529, HSA, property interest deductions, non-taxable military pension Meanwhile, Warren Buffet may pay $0 in taxes . Don't worry about what everyone else is doing or has going on
both of us are single, just started work in the us, same age
Normally, for a student under F1 status having 150k-170k base, what's the federal income tax rate? 19%? Ppl with a similar situation please let me know.
I am on F1 too, would get to know about 170k base I know its a lot đ˘ And total goes 210k
didnt get you. whats was your fed income tax rate for 170k base?
One or the other of you probably fucked up your withholding
I didnt fill my W4 until 2 days after my 1st payday. I filled it now. Will I get the tax on my 1st paycheck refunded?
Eventually you will when you file your tax return but if youâre over withholding, you are basically giving the IRS an interest free loan. Hopefully youâll learn from this next year to avoid being pegged by the govât.
Paycheck withholding does not matter. At tax time your friend will pay the difference plus the penalty if he does not make additional estimated payments during the year.
My partner and I work at the same company but I bring in a little bit more than them (gross income is higher). We both live in CA too. When we both looked at our W2s yesterday, I was taxed significantly less than them even though Iâm in a higher tax bracket. Why is this? 1) My state withholding is 1, his was 0 2) I max out my 401k, he did not OP, I have a strong feeling that #1 is the reason for your disparity.
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It's called marginal tax rate
please elaborate... _/\_
Your taxes are withheld based on a marginal tax rate, it's not a flat 19% or 14% of your income. Different parts of your income are taxed at different amounts, and your company will withhold taxes based on how much you will make over the entire year. If they get it wrong you get money back in your tax returns.