New Ytest
Sign out
Bimmerpost
Login
BMW E39 5-Series Forum | 5Post.com
BMW Garage BMW Meets Register Today's Posts  
Go Back   BMW E39 5-Series Forum | 5Post.com > BIMMERPOST Universal Forums > Off-Topic Discussions Board

Post Reply
 
Thread Tools Search this Thread
      07-28-2022, 06:15 PM   #6469
paquet
Lieutenant
United_States
630
Rep
433
Posts

 
Drives: 2019 540i M Sport etc
Join Date: Sep 2020
Location: FL

iTrader: (0)

No idea of how salaried works in the US, chief.

Assuming you can't be incorporated / have a corp shelter of some sort?
Appreciate 0
      07-28-2022, 06:22 PM   #6470
Sedan_Clan
Law Enforcer
Sedan_Clan's Avatar
Brazil
24981
Rep
22,266
Posts

 
Drives: '22 Chalk Gray Porsche C2S
Join Date: Jun 2006
Location: ..in your rearview!!!

iTrader: (26)

Quote:
Originally Posted by packet View Post
No idea of how salaried works in the US, chief.

Assuming you can't be incorporated / have a corp shelter of some sort?
I don't know enough about that stuff to even know where to begin.
Appreciate 0
      07-28-2022, 06:29 PM   #6471
Watching The World Burn
Lengthy but not a Girthy Member
1072
Rep
130
Posts

 
Drives: 1971 Honda Civic
Join Date: Aug 2017
Location: Riding the high seas of your emotions

iTrader: (0)

Quote:
Originally Posted by Sedan_Clan View Post
I don't know enough about that stuff to even know where to begin.
Not American but don't think you could do that and still collect a pension since a corp is a separate legal entity. But as packet says - that's what my wife and I do - we each have our own corps and if Justin Trudeau makes it beneficial to be poor one year then that's what we are that year by declaring a low salary from our corps.
Appreciate 1
paquet629.50
      07-28-2022, 06:33 PM   #6472
paquet
Lieutenant
United_States
630
Rep
433
Posts

 
Drives: 2019 540i M Sport etc
Join Date: Sep 2020
Location: FL

iTrader: (0)

Trudeau ... *spit*

Some places don't let you be shielded behind a corporation - so though you have more options for corps in the US like an S corp, I don't know if you'd be able to.

Guessing you already doing the basic 401k (+ matching if offered)...

If I were you, Sedan_Clan, I'd hit up a good, recommended accountant / tax advisor to plan Cali specific stuff for now
Appreciate 0
      07-28-2022, 06:36 PM   #6473
Sedan_Clan
Law Enforcer
Sedan_Clan's Avatar
Brazil
24981
Rep
22,266
Posts

 
Drives: '22 Chalk Gray Porsche C2S
Join Date: Jun 2006
Location: ..in your rearview!!!

iTrader: (26)

Quote:
Originally Posted by packet View Post
Trudeau ... *spit*

Some places don't let you be shielded behind a corporation - so though you have more options for corps in the US like an S corp, I don't know if you'd be able to.

Guessing you already doing the basic 401k (+ matching if offered)...

If I were you, Sedan_Clan, I'd hit up a good, recommended accountant / tax advisor to plan Cali specific stuff for now
We have pensions and deferred compensation programs to supplement. About 14% per paycheck goes into the pension plan and I put another +/- 10% into my deferred compensation.
Appreciate 0
      07-28-2022, 06:39 PM   #6474
ezaircon4jc
Major General
ezaircon4jc's Avatar
United_States
4451
Rep
5,338
Posts

 
Drives: 2019 540i M Sport
Join Date: Jan 2015
Location: San Diego

iTrader: (0)

Quote:
Originally Posted by Sedan_Clan View Post
I'm just venting, but….

…it is annoying how I can gross $12k in a two week pay period and the government takes half. Taxation is a racket. Sometimes I think it pays more to make less money. I'm already diverting the maximum into my deferred compensation and even with that considered I get no break during tax season. How are you guys/gals navigating the tax space?
I learned many moons ago that it doesn't matter how much one makes, it matters how much one keeps! I would try and bug-out after about 5 hours on a holiday as anything over that was essentially working for free; the taxes took that much! I just heard that of the person who wins this $1B+ mega lotto jackpot will net ~$335M after taxes. Why does the gummint feel they are entitled to about 2/3rds of the winnings?

A famous talk show host once said that if we Americans had to write a quarterly check instead of having taxes deducted, taxes wouldn't be near as high as they are!

And... STAY SAFE OUT THERE!!!!!!!!!
Appreciate 1
      07-28-2022, 06:39 PM   #6475
paquet
Lieutenant
United_States
630
Rep
433
Posts

 
Drives: 2019 540i M Sport etc
Join Date: Sep 2020
Location: FL

iTrader: (0)

Understood - that's all salaried stuff as taxable benefit / non-taxable benefit (as much as i know)

The accountant / tax planner is the way to go, amigo
Appreciate 0
      07-28-2022, 06:47 PM   #6476
Dino GT
Enlisted Member
35132
Rep
45
Posts

 
Drives: BMW
Join Date: Dec 2020
Location: Eastern

iTrader: (0)

Quote:
Originally Posted by Sedan_Clan View Post
I'm just venting, but….

…it is annoying how I can gross $12k in a two week pay period and the government takes half. Taxation is a racket. Sometimes I think it pays more to make less money. I'm already diverting the maximum into my deferred compensation and even with that considered I get no break during tax season. How are you guys/gals navigating the tax space?

Move to Canada Ontario and those 12k turn into 4k
Appreciate 4
Buug95917177.00
paquet629.50
vreihen1615143.50
      07-28-2022, 06:49 PM   #6477
ezaircon4jc
Major General
ezaircon4jc's Avatar
United_States
4451
Rep
5,338
Posts

 
Drives: 2019 540i M Sport
Join Date: Jan 2015
Location: San Diego

iTrader: (0)

Quote:
Originally Posted by packet View Post
i have a few illegal thoughts (about out-running patrol cars, not cuffs, that's legal)
but, you can't outrun a radio...
Quote:
Originally Posted by Sedan_Clan View Post


The bird is difficult to outrun as well, but it surprises me when it occasionally happens. I am impressed with criminal moxie at times.
Need I say more...

Name:  Cop smart car.png
Views: 603
Size:  3.50 MB
Appreciate 5
paquet629.50
Dino GT35131.50
Buug95917177.00
      07-28-2022, 06:53 PM   #6478
Sedan_Clan
Law Enforcer
Sedan_Clan's Avatar
Brazil
24981
Rep
22,266
Posts

 
Drives: '22 Chalk Gray Porsche C2S
Join Date: Jun 2006
Location: ..in your rearview!!!

iTrader: (26)

Quote:
Originally Posted by ezaircon4jc View Post
Quote:
Originally Posted by Sedan_Clan View Post
I'm just venting, but….

…it is annoying how I can gross $12k in a two week pay period and the government takes half. Taxation is a racket. Sometimes I think it pays more to make less money. I'm already diverting the maximum into my deferred compensation and even with that considered I get no break during tax season. How are you guys/gals navigating the tax space?
I learned many moons ago that it doesn't matter how much one makes, it matters how much one keeps! I would try and bug-out after about 5 hours on a holiday as anything over that was essentially working for free; the taxes took that much! I just heard that of the person who wins this $1B+ mega lotto jackpot will net ~$335M after taxes. Why does the gummint feel they are entitled to about 2/3rds of the winnings?

A famous talk show host once said that if we Americans had to write a quarterly check instead of having taxes deducted, taxes wouldn't be near as high as they are!

And... STAY SAFE OUT THERE!!!!!!!!!
Now THAT is crazy! I would've expected the greedy government to withhold 1/3rd……….but 2/3rd?!? Jesus H.!!!!

I do agree that there's a break point where it doesn't pay to work any additional hours. It seems like five O.T. spots per paycheck is the balance point.

I'm trying to hide today. lol! I'm tired as hell today.

Quote:
Originally Posted by packet View Post
Understood - that's all salaried stuff as taxable benefit / non-taxable benefit (as much as i know)

The accountant / tax planner is the way to go, amigo
I definitely need to find a really good accountant.


Quote:
Originally Posted by Dino GT View Post
Quote:
Originally Posted by Sedan_Clan View Post
I'm just venting, but….

…it is annoying how I can gross $12k in a two week pay period and the government takes half. Taxation is a racket. Sometimes I think it pays more to make less money. I'm already diverting the maximum into my deferred compensation and even with that considered I get no break during tax season. How are you guys/gals navigating the tax space?

Move to Canada Ontario and those 12k turn into 4k


Damn! I would faint.
Appreciate 3
Dino GT35131.50
Buug95917177.00
      07-28-2022, 06:56 PM   #6479
Murf the Surf
Lieutenant
Murf the Surf's Avatar
18911
Rep
566
Posts

 
Drives: Porsche 993
Join Date: Mar 2022
Location: Dog Lake, South Frontenac, Ontario Canada

iTrader: (0)

Quote:
Originally Posted by Sedan_Clan View Post
Now THAT is crazy! I would've expected the greedy government to withhold 1/3rd……….but 2/3rd?!? Jesus H.!!!!

I do agree that there's a break point where it doesn't pay to work any additional hours. It seems like five O.T. spots per paycheck is the balance point.

I'm trying to hide today. lol! I'm tired as hell today.



I definitely need to find a really good accountant.






Damn! I would faint.
I love the fuckin' government and the government loves fuckin' me.
Appreciate 5
Sedan_Clan24980.50
Dino GT35131.50
Buug95917177.00
cmyx6go15689.50
      07-28-2022, 06:58 PM   #6480
Sedan_Clan
Law Enforcer
Sedan_Clan's Avatar
Brazil
24981
Rep
22,266
Posts

 
Drives: '22 Chalk Gray Porsche C2S
Join Date: Jun 2006
Location: ..in your rearview!!!

iTrader: (26)

Quote:
Originally Posted by Murf the Surf View Post
Quote:
Originally Posted by Sedan_Clan View Post
Now THAT is crazy! I would've expected the greedy government to withhold 1/3rd……….but 2/3rd?!? Jesus H.!!!!

I do agree that there's a break point where it doesn't pay to work any additional hours. It seems like five O.T. spots per paycheck is the balance point.

I'm trying to hide today. lol! I'm tired as hell today.



I definitely need to find a really good accountant.






Damn! I would faint.
I love the fuckin' government and the government loves fuckin' me.
Only, they don't use any lube.
Appreciate 4
      07-28-2022, 07:00 PM   #6481
paquet
Lieutenant
United_States
630
Rep
433
Posts

 
Drives: 2019 540i M Sport etc
Join Date: Sep 2020
Location: FL

iTrader: (0)

Sedan_Clan try these guys https://www.facebook.com/pg/Carpe-Gr...8067/services/

Friends in the US swear by them
Appreciate 1
Sedan_Clan24980.50
      07-28-2022, 07:04 PM   #6482
Sedan_Clan
Law Enforcer
Sedan_Clan's Avatar
Brazil
24981
Rep
22,266
Posts

 
Drives: '22 Chalk Gray Porsche C2S
Join Date: Jun 2006
Location: ..in your rearview!!!

iTrader: (26)

Quote:
Originally Posted by packet View Post
Sedan_Clan try these guys https://www.facebook.com/pg/Carpe-Gr...8067/services/

Friends in the US swear by them
Their bio alone is a selling point. I'm all about that gray area.
Appreciate 0
      07-28-2022, 07:42 PM   #6483
vreihen16
Recovering Perfectionist
vreihen16's Avatar
Ukraine
15144
Rep
941
Posts

 
Drives: 2015 BMW i3 BEV
Join Date: Jun 2019
Location: Orange County, NY

iTrader: (0)

Garage List
Quote:
Originally Posted by Sedan_Clan View Post
…it is annoying how I can gross $12k in a two week pay period and the government takes half.
Are you hiring? I don't gross a third of that amount every two weeks, and there's certainly no shiny new Porsche in my driveway.....
__________________
2015 BMW i3 BEV, Giga World (Lodge interior), Tech/Driving Assist Packages, 30K miles
Appreciate 0
      07-28-2022, 08:03 PM   #6484
gatorfast
Major General
gatorfast's Avatar
United_States
4992
Rep
6,860
Posts

 
Drives: 718 Cayman
Join Date: Jan 2008
Location: SoFla

iTrader: (4)

Quote:
Originally Posted by Sedan_Clan View Post
I'm just venting, but….

…it is annoying how I can gross $12k in a two week pay period and the government takes half. Taxation is a racket. Sometimes I think it pays more to make less money. I'm already diverting the maximum into my deferred compensation and even with that considered I get no break during tax season. How are you guys/gals navigating the tax space?
Cops earn $300k+? I thought it was a fraction of that, nuts.
Appreciate 1
Sedan_Clan24980.50
      07-28-2022, 08:33 PM   #6485
Sedan_Clan
Law Enforcer
Sedan_Clan's Avatar
Brazil
24981
Rep
22,266
Posts

 
Drives: '22 Chalk Gray Porsche C2S
Join Date: Jun 2006
Location: ..in your rearview!!!

iTrader: (26)

Quote:
Originally Posted by vreihen16 View Post
Quote:
Originally Posted by Sedan_Clan View Post
…it is annoying how I can gross $12k in a two week pay period and the government takes half.
Are you hiring? I don't gross a third of that amount every two weeks, and there's certainly no shiny new Porsche in my driveway.....
We are always hiring, but even the money isn't enough to attract new officers/deputies. It also depends on the state you live in. I think California cops earn more than our brethren in every other state, but many other states offer a lower cost of living and taxation is less intrusive. I think New York police officers should be paid more. They are paid horribly considering the cost of living in New York State. The last I checked, their base pay was sub-$50k annually. Crazy!!!

Quote:
Originally Posted by gatorfast View Post
Quote:
Originally Posted by Sedan_Clan View Post
I'm just venting, but….

…it is annoying how I can gross $12k in a two week pay period and the government takes half. Taxation is a racket. Sometimes I think it pays more to make less money. I'm already diverting the maximum into my deferred compensation and even with that considered I get no break during tax season. How are you guys/gals navigating the tax space?
Cops earn $300k+? I thought it was a fraction of that, nuts.

Well there is overtime tied into it, but my base is well into the six figures. Add the overtime (…which is damn near perpetual at this point considering staffing shortages) and you can tap into the $200k+ range really easily….


….and that's before there are any chevrons on your sleeve or bars on your collar. There is less overtime for supervisory staff, however. I gross anywhere between $16k-24k a month depending on how much overtime I work. I'm already at $106k so far and we're only at the halfway point in the year. That said, I know many of you make significantly more than I do.
Attached Images
 
Appreciate 4
Buug95917177.00
///d1817.00
vreihen1615143.50
      07-29-2022, 07:27 AM   #6486
///d
Captain
///d's Avatar
United_States
1817
Rep
611
Posts

 
Drives: F15 35d M Sport
Join Date: Jan 2017
Location: Minne-snow-ta

iTrader: (0)

Quote:
Originally Posted by Sedan_Clan View Post
We are always hiring, but even the money isn't enough to attract new officers/deputies. It also depends on the state you live in. I think California cops earn more than our brethren in every other state, but many other states offer a lower cost of living and taxation is less intrusive. I think New York police officers should be paid more. They are paid horribly considering the cost of living in New York State. The last I checked, their base pay was sub-$50k annually. Crazy!!!




Well there is overtime tied into it, but my base is well into the six figures. Add the overtime (…which is damn near perpetual at this point considering staffing shortages) and you can tap into the $200k+ range really easily….


….and that's before there are any chevrons on your sleeve or bars on your collar. There is less overtime for supervisory staff, however. I gross anywhere between $16k-24k a month depending on how much overtime I work. I'm already at $106k so far and we're only at the halfway point in the year. That said, I know many of you make significantly more than I do.
Yeah but you gotta move to Cali or big cities for that

Recent articles report Minneapolis starting at 73k annual. I dont know if you could pay me enough to work that shit show though.
__________________
F15 35d M Sport (SOLD ) | F30 328i | 2020 Tacoma TRD Pro

My Diesel Information Thread | My Wheels, Tires, and Fitment Thread | My Teardrop Camper Build | My F15 Suspension Lift Thread
Appreciate 1
Sedan_Clan24980.50
      07-29-2022, 08:13 AM   #6487
jamesinaz
First Lieutenant
1644
Rep
362
Posts

 
Drives: 2013 X3 2017 540i
Join Date: Feb 2020
Location: Arizona

iTrader: (0)

Garage List
Even assuming I was still young enough to be a cop, there is no way I could take the abuse given them in today's world. IMO many people need a good beating after their actions as a reminder that it was a bad thing they did.
Appreciate 7
vreihen1615143.50
Buug95917177.00
paquet629.50
Sedan_Clan24980.50
Dino GT35131.50
      07-29-2022, 08:21 AM   #6488
vreihen16
Recovering Perfectionist
vreihen16's Avatar
Ukraine
15144
Rep
941
Posts

 
Drives: 2015 BMW i3 BEV
Join Date: Jun 2019
Location: Orange County, NY

iTrader: (0)

Garage List
Quote:
Originally Posted by Sedan_Clan View Post
We are always hiring, but even the money isn't enough to attract new officers/deputies. It also depends on the state you live in.
There was a news article today in our regional news about an upstate county shipping their remaining ICE detainees out to another prison/jail. The county had a lucrative contract with the feds to house detainees in their excess jail capacity, but are so short-staffed that they cannot operate the jail at full capacity any more. The last civil service exam provided 8 new deputies, and they are still 29 people short to fill all of their open positions.....
__________________
2015 BMW i3 BEV, Giga World (Lodge interior), Tech/Driving Assist Packages, 30K miles
Appreciate 1
Sedan_Clan24980.50
      07-29-2022, 09:12 AM   #6489
///d
Captain
///d's Avatar
United_States
1817
Rep
611
Posts

 
Drives: F15 35d M Sport
Join Date: Jan 2017
Location: Minne-snow-ta

iTrader: (0)

Quote:
Originally Posted by Sedan_Clan View Post
…it is annoying how I can gross $12k in a two week pay period and the government takes half.

How are you guys/gals navigating the tax space?
MN is just as bad. I'm navigating this by trying to move out of MN. Unfortunately the places I want to move (mountains) are the same places everyone from the west coast who is sick of high taxes and the related is moving to in an attempt to escape those things, but then still vote for the same crap.

Quote:
Originally Posted by jamesinaz View Post
Even assuming I was still young enough to be a cop, there is no way I could take the abuse given them in today's world. IMO many people need a good beating after their actions as a reminder that it was a bad thing they did.
A good friend of mine is an officer in Mesa. He keeps trying to get me to move down and go to the academy and be an officer with him. I've heard his stories, no thanks.
__________________
F15 35d M Sport (SOLD ) | F30 328i | 2020 Tacoma TRD Pro

My Diesel Information Thread | My Wheels, Tires, and Fitment Thread | My Teardrop Camper Build | My F15 Suspension Lift Thread
Appreciate 2
Sedan_Clan24980.50
vreihen1615143.50
      07-29-2022, 09:27 AM   #6490
jamesinaz
First Lieutenant
1644
Rep
362
Posts

 
Drives: 2013 X3 2017 540i
Join Date: Feb 2020
Location: Arizona

iTrader: (0)

Garage List
Quote:
Originally Posted by ///d View Post


A good friend of mine is an officer in Mesa. He keeps trying to get me to move down and go to the academy and be an officer with him. I've heard his stories, no thanks.
I live north of Mesa. About 25 miles. A world of difference and still Meas isn't that bad IMO. Not compared to some of the blue cities.
Appreciate 1
Sedan_Clan24980.50
Post Reply

Bookmarks


Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off



All times are GMT -5. The time now is 04:56 PM.




5post
Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2024, vBulletin Solutions Inc.
1Addicts.com, BIMMERPOST.com, E90Post.com, F30Post.com, M3Post.com, ZPost.com, 5Post.com, 6Post.com, 7Post.com, XBimmers.com logo and trademark are properties of BIMMERPOST