velvetmilkman (velvetmilkman)

There are a few reasons for this. First it’s likely that you payroll provider annualized the payment, which would place EE at around the highest tax bracket. So, the highest rate is 37% federal, SSN+MC = 6.2%, and state and city tax could be anywhere from 0% in FL & TX to 10% in CA and 12% in NYC… In short, yes.

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