Summer Analyst Tax Refund Poll
For everyone that interned this past summer (or people who have interned in the past), how much did you get back when you filed your tax return?
I'll start: made 23K (10k sign on bonus and 13K summer salary) Paid 9K in taxes, return says I should be getting 3K back
Seems pretty low...
you got a signing bonus for SA? where did you work? i wanna do my SA there
Most BBs give a bonus of $1k to 2500. Where did you get 10k? That is insane.
SA signing bonuses are back. its nice
There is no way you got a 10k signing bonus for freakin SA...
yeah, that sounds more like a FT signing bonus. How much do SAs typically lose overall from taxes?
is the 10k the signing bonus from accepting FT at the end of the summer? or did you just do your SA with SAC Advisors :)
I got a 1k 'relocation and travel' stipend for my SA if you wanna consider that a signing bonus... but 10k? WTF
typo? or he signed for FT at end of summer and including that in total comp (but then it should be higher)
I think you guys may be missing that he got the signing bonus at the end when he accepted the FT offer. He just worded it strangely.
I got a signing bonus of 2k so they are still giving some out
yeah the 10k for FT signing sounds right
13K for summer is like 5K lower than what most people get...!? Did you mean after-tax?
If you don't get OT you just make 70k pro rated so that's 13k...
I have an offer for 65,000 prorated and 1k relocation. How much can I expect to lose in taxes?
I can't tell you how much I hate the damn near 50% bonus tax......Its literally heartbreaking.
nope, 2500 at some places this year plus 75k pro-rated is rate at some. Guess salaries have gone up significantly over a few years ago.
Due to the attempted shift from large bonuses to larger salaries and smaller bonuses
10k for SA? i call bullshit 10K for FT sounds about right.
50% bonus taxes just hurts and screws up your next 2-3 paychecks
I'm sure there is a problem with this but do you think companies could get away with not calling it a "bonus" but instead through some creative method divide it amongst your next couple of check so its taxed less? or does it not matter.
makes no difference in the grand scheme of things, since your total tax liability will be the same come april 15th regardless. the only difference is whether you have to wait until tax season to get the money back as a refund.
Ooooh Ok I didn't know that. I thought bonuses were applied differently.
Jeese, MM pays a lot less than BB. My life is brutally unfulfilling.
10k sign on is for signing full-time offer my bad on the wording now can someone answer the tax question?
Not shit... my parents still file a joint tax return that includes me so I'm just one big tax write-off anyway and I don't get shit back. BALLS
Wait, I admittedly know nothing about taxes, but are you saying that if your parents claim you as a dependent still then you get no tax refund? That can't be right...
The cutoff is like 6k or something. If you made less than that you get your money back, if not you get boned and they take more taxes... you may still get a little bit back though
If you make over the 6k limit and are over 19 y/o then they cant claim you anymore. id look into that
who gives a FT signon after accpeting FT offer and not at the start of the FT program itself?
you can still be claimed as a dependent if you're a full-time student, under most circumstances, even if you make more than $6k
is 6K of tax on 20K to be expected then? i heard some people mention that they got almost all of their tax back
'we are white people, suck our dicks' -aziz ansari
i think people here overestimate the actual tax bite, once refund has been received.
your mileage may vary, but as a real-life example, i started FT last summer, no bonus in 2010, so on ~$35k pre-tax, my total federal tax bill was ~$3500, so right around 10%. SS/Med adds another 7-8%, and then state taxes will vary depending where you are. a full year + bonus would bump up some of your tax rate too (and if you don't know how marginal tax rates work yet, it's a good thing to understand).
all in all though, i don't think you're kissing away more than about 20-25% in most cases.
no state income tax ftw, dayum ya'll pay a lot in taxes...
What I dont get is all those people talking about 5K+ refunds after their SA stint Did they use tuition credits or something for deductions?
I think I got ~1.5k back on 17k of pre-tax income. I remember expecting more..what did you guys get? Numbers please..
I made 21K in 2010 while in college PT Job + SA gig.......and I got back $3500.
Feenans-- I'm in the same situation as you. ~17k pre-tax income, estimated 1.4k back. Seems very low, esp when compared to friends with similar/same banking jobs who are all receiving higher tax returns. Can someone help?
Not international. Are you?
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