Why such high tax?!

Question

My husband just became a high school English teacher this year. His salary is $40,000 but 30% of that gets taxed! Will we see that 30% at tax time?? 
We live in the south btw

Answer

Welcome to a world where the rich don’t pay their fair share 🙃

Answer

Could it include insurance/HSA and retirement contributions, plus local and federal taxes, Medicare and social security ? 
You live in the south of the USA ?
I take home around 60% of my actual annual salary because of everything 🙃

Answer

Arr you sure its all going to taxes? I am a teacher and get about that much taken out in taxes, insurance, retirement, and union dues

Answer

It’s probably not all taxes. You’re at a 12% tax rate, plus a little bit for state taxes and other taxes. So if he’s only taking home 70% turn he’s contributing to a retirement plan, paying insurance, OR he filled out his W4 super wrong. If it’s one of the first two then no, that money is gone. If he filled out his W4 wrong then he’ll likely get some of that back at tax time. Of you’re concerned, check his pay stub closely. There will be an itemized list of where the money is going. If it’s genuinely going to taxes then all he needs to do is talk to HR and change his W4

Answer

Check his paystub to see what each deduction is marked as. Like Allison said, a large chunk is probably retirement, Union dues, and health insurance if he enrolled in their plan. My husband is also a teacher and his take home compared to his gross pay is crazy!

Answer

I’m from Canada, and when I read this I was like “yeah sounds normal to me..? 🤷🏻‍♀️”

Answer

More money you make lol more taxes they take.. To the point it's not even worth working in that tax bracket

Answer

For my husband we pay out for his 401k and our health insurance out of his paycheck, plus taxes, I don’t think we’re up to 30% but honestly I don’t see his pay stubs. My check I only have state and federal withholdings and that’s around 10% of my check, but we’re usually cutting it really close to owing vs getting a tax return, we try to get as close to zero on that as we can.

Answer

As someone said, look at his pay stubs or full w2 or hell, ask whoever you go do taxes with. Nothing is a secret. It’s all somewhere and you just need to find the correct, detailed paperwork. I can’t imagine the 30% is all federal and state. I did see someone else speaking about claiming, in the US the form changed in 2020 and you can no longer claim 1, 2 etc. If you’re married, they combine your income and if you have children they have you multiply each dependent by X amount and the results of those two things will determine what exactly is taken from taxes. Call his HR or your tax person.

Answer

Crazy isn’t it?! I’m assuming you mean state and federal taxes coming out if in the US. And you’ll see some, not all.

Why such high tax?!

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