NYAssociate wrote:spondee wrote:MrKappus wrote:^ You're right. It's actually closer to 18,900. You can get it back after filing, but unless you lie about exemptions, you're going to get taxed like somebody that makes 160/yr. I saw a thread on here the other day that said an associate making 160 in NYC will take home about 97k.
Why would you be taxed at 160K if you only make 30K?
Taxes are withheld as if you were making $160,000, but you are refunded the money later on.
There are various ways to fix this, depending on how your firm does W2s.
thanks for being the only adult in this thread.
Edit: and anonymous harvard 1L, too.