Tax 2007
I know the whole tax has been covered in depth. However, I think my situation is a little bit different, and I would like to have know more.
I interned at BB last summer and live in one of the southern states. I just received my signing bonus, which has been taxed in NY. First of all, is this normal? Second, will I be able to get refund on this since I will start working in July and make around 45k in 2007?
Should I call the firm and ask them to send me a new check which can be taxed in my state?
T
the 10k is taxed based on where you work not where you live at the moment, least thats my understanding of it...also you get a bunch of the taxes back after your first year
Did you fill out tax forms? I had to fill out my tax forms before my bonus could be processed. One of the forms was a state-tax form for the state in which I'd be working. Because of this, I got taxed at that state's rate.
I haven't filled out my taxes yet. However, since I received the bonus in 2007, I don't think I need to report this for 2006 tax refund.
ibanalyst, some of the people I worked with have received up to 1k more than I did. Also, I live in one of the southern states at the moment. So, I would like to be taxed in this state. How much were you able to get back after first year?
cant tell you specifically how much i got back b/c i cant remember, but i do recall it was more than half or so of what i was taxed on the sign-on bonus. part of that was also a refund on other income from work at school etc. i think.
that is interesting that some people got more than you. from what i was able to tell based on just people in my ugrad class, everyone in nyc got roughly the same while branch offices differed
Yes, that's one thing that I don't understand. I was thinking that it's due to the number of exemptions I had.
So when you received your signing bonus before you moved to NYC, you were taxed in NY, right?
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