Mr.Reddington

Account Executive

Taxes 😵‍💫

Alright anyone have any tax tips for a new guy. I just got my first big B2B check and commission tax is killing me. Taxes took 37% out of my money nature check yesterday. And in case you're wondering I live in California trying to grind it out for a couple more years and get the hell out of here. Any help is appreciated.

💰 Compensation

✌️ Growing Pains

33 comments

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funcoupons

WR Officer

👑

Welcome to California lol.

paddy

WR Officer

Director of Business Development

My suggestion is to vote out ass hole politicians who legislate higher tax rates.

bassinshaps

Politicker

Territory Sales Manager

We tried to but it didn’t work hahaha

Incognito

WR Officer

Master of Disaster

When the fuck is @sahil gonna do an AMA with a top tax expert so everyone can keep more of their hard earned money?

(BTW - being a financial expert is part of my job and my fiancé is a CPA so yes there are ways)

ryan_howard

Politicker

Director, Business Development

Please daddy!!

Mr.Reddington

Executive

Account Executive

Do tell more 😎

FamilyTruckster

Politicker

Exec Director, Major Accounts

The thrill of the big check….and the despair when you see it after taxes.

SaaSguy

Tycoon

Account Executive

Everytime...

mitts2

Politicker

Account Executive

Here's a tip: Don't look at the taxes that got pulled out. Don't do the math. Just look at what hits your bank account.

TheNegotiator

Arsonist

VP of Sales

This has got to be the worst advice I have ever heard in the history of my existence as a sentient being…
.
Stare INTENTLY at that taxation amount and exploit every loophole on God’s green earth to keep your money. I worked way too hard not to end up the kind of worker drone that the majorly of people I grew up with, will end up as.
.
I earn what I make. Deserve what I make, and I will keep as much of it as legally possible.

mitts2

Politicker

Account Executive

Relax pal. Comment was posted with a bit of sarcasm. I look at my paychecks too. Go eat a snickers.

TheNegotiator

Arsonist

VP of Sales

Sorry bruh, sarcasm is translucent in text. I’m getting chubs, so I’m on a diet.

CuriousFox

WR Officer

🦊

Come to the south 😎

FattySnacks

Politicker

Senior Account Executive

This is why I live in Texas 😎

1nbatopshotfan

Politicker

Sales

Lower your taxable amount as much as possible. Put a bunch into your 401k from commission. If you’re at a small place HR may help you do this, every commission check.

SaaSam

Politicker

Account Executive

I want to say something helpful but all I got is to make sure you're keeping track of any expense you have that is even remotely tied to your job to help get a better tax return come tax season.

Aside from that if you're already wanting to leave why wait a few years?

Sunbunny31

Politicker

Sr Sales Executive 🐰

I just factor 50% gone and am happy when I get more. Also, save, save, save. Put money into a savings account in addition to 401(k). You'll never regret it.

Nairobi

Politicker

Oh wow I was legit going to make a post about that. I live in NYC and taxes took 51% of my paycheck… I literally googled "Good NYC accountant for salespeople” 🥲

FinanceEngineer

Politicker

Sr Director, sales and partnerships

I had 52% taxes on a Q3 commission check...NYC baby

Grant_Horun

Politicker

Account Executive

Two things in life are inevitable, Death & Taxes

CaneWolf

Politicker

Call me what you want, just sign the damn contract

That's just how it's gonna be!

ChunkyButters

Tycoon

There are ways to get less deducted, but you should probably reach out to a CPA for that advise.

I just guestimate 50% will hit my bank, always forget I actually have a base pay, then am pleasantly surprised when I get more than 50% and remember I have a base.

I have a side gig that is 1099, so I don't get a big return and the extra that the tax man takes out covers the due tax on my 1099 income.

TheNegotiator

Arsonist

VP of Sales

Just 37%. You lucky...
.
Come live in Canada- aka socialist hell. I got a new title and a 30k pay-bump. The govt is taking 54%. I’ll barley notice the increase. And naturally the higher bracket will apply to my commish cheques too. Taxation really is (mostly) theft.

HarryCaray

Notable Contributor

HMFIC

Taxation is theft.

Diablo

Politicker

Sr. AE

Remember for next time: don't check your ADP. Bank account is your source of truth

sugardaddy

Politicker

🍬

39% Taxes. It’s normal in Denmark. Are you earning more than 100.000 dollars year. It’s 49% 🤣 ..

Wolf

Opinionated

Commercial Account Executive

Where my fellow Canadians at? The CRA is much worse

TheNegotiator

Arsonist

VP of Sales

Scum. Scum of the earth.

happyhunter

Politicker

-2

spittin' sunshine

It's called the sunshine tax and you have to decide whether it's something you want to pay or move somewhere with a lower quality of life (my opinion of course, there are so many amazing places in the US but I'm Cali forever).

You're paying to live in one of the best states in the US. Beautiful beaches, beautiful people, beautiful cities. And yes the taxes suck...trust me, I cry every time I'm supposed to get a big commish and then it's like half of what it is. But then I remember my life is fucking dope here so I brush it off and keep grinding.

If you can make it here in California, you are proof that the American dream is alive and well. That's my belief anyway. Skipping out to move to a state where my dollar can go farther is totally valid, but I'd rather work harder and buy myself Audi here in California instead of two Audis in Arizona.

TheNegotiator

Arsonist

VP of Sales

No. Absolutely no. Never accept people eating your lunch as fact of life. Rage against the machine, break the machine, remake the machine in your own image.
.
Find a way to live where you want, and keep what you earn. As legally as possible of course

happyhunter

Politicker

spittin' sunshine

That's not what I am accepting or saying at all. If you haven't lived in San Diego, I don't really think it's fair of you to discredit me.

TheNegotiator

Arsonist

VP of Sales

Where I live has higher taxes. And I get around them.
.
I would get around Californian taxes too. So, I’m going to stand behind what I said

bassinshaps

Politicker

Territory Sales Manager

I live in San Francisco and I think it’s fair to discredit you.
Most California cities are disgusting and full of despair. California ranked 17th for quality of life yet levees the most taxes.
Go outside of California and see how clean cities are and how happy people are.

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Mr.Reddington

Taxes 😵‍💫

33 comments

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