NOICE.

Make sure you treat yourself to something with that windfall! I will store your game for free if you decide to buy soon, we are not too far from you in NE PA. Brian
(Not kidding on the free storage, we have room available)

I thought for sure that this topic was sarcastic. Who’d have thought? Nice score!

Sweet not often the IRS getting in touch with you turns out to be fantastic.

you should save it for retirement

awesome hope you can get that metalica

Nice! I love Free Money!

Smart man! Nip that in the bud right away Over here the furniture would be being delivered before the check even arrived. AND I would be finding out about it for the first time when the delivery guys are at my door

Have you considered Jurassic Park?

Nice! I think Colson just raised his asking price.

Before you spend it all, make sure you don't have to pay any taxes...

How is this again? I retired in 2014. Is there any chance I could be looking for a nice shot like this?

I don’t love the IRS.

They are like a bunch of prostitues.
I pay them money every year to get fucked.

If by annuity you mean a defined pension benefit plan, then yes. My employer paid into a defined pension plan. A check comes in the mail every month

Annuities and pension plans are different.

Congrats!! I see 2 NIB pins in your future...

Not a big fan...

But if you make they will take it.

Always burns my ass to send these out..

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I love the IRS (independent rear suspension) in my '01 Mustang SVT Cobra and my '13 Camaro ZL1.

I'm not so fond of the other IRS.

You are paying more in taxes with that check than I have ever made in one year.

I apologize but it is hard to gather much sympathy when what you have left over is more than I make.

Is this a look at me post?

I almost down voted you but thought better of it. I understand where you are coming from but we should not judge frankmac or anybody else who is doing well and is paying high taxes. Taxes take a big chunk out of everybody and we all feel that bite.

It is also possible to have a one time event happen that launches you to a much higher tax bracket for that year. For example, from an IPO that happened this year (so all my stock being paid at once instead of over multiple years) my federal income tax is going to be higher than my salary. If someone saw the check I am writing to the IRS next year and assumed that every year I pay that much in taxes they would assume I have millions of dollars lying around, but I don't have near that much money. You can have similar situations happen from lump sum settlements happening.

This one is..

You need to find more tax deductions.

It's a life lesson. When hiding personal info, 1 coat with an opaque color is better than 2 coats with semi-transparent colors.

Much better, but you've now exposed data in the second image that wasn't visible in the first. You just have to tweak the image to see it. And now there are 2 sources to extrapolate from.

I'd just delete the pic.

Guys, even if you can obviously afford Lifelock, don't post pics of your checks on the internet.

Don't spend it yet, wait to see if they tax that new found money, and if so at what rate - the normal 30% income tax rate or the 50% supplemental income rate lol.

I'm not judging the man for doing well. And we all feel the tax bite. What I am looking at is a check made out to the IRS for income. We have 7 income tax brackets at the federal level. The brackets range from a low of 10% up to $9700.00 on up to a high of 37% for an income range of $510,000.00.

The 35% tax bracket is the only one that works in this situation. I see a check made for income for $98,000.00. Run the numbers

$46.000 + 35%*(X- $204,100) = $98.000. Solve for X. X =354,000. $46,000 + 35% * ( 354,000 -204,000) = $98,000

$46,000 + 35%* 150,000 = $98,000

$46,000 + 52,000 = $98,000

To have a total federal income tax of $98,000 means the total in come was $354,000. So, $350,000 - $98,000= $252,000 income.

That's $252,000 to live on and play with after you pay your taxes of $98,000.00

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Maybe $252,000 is not very much where the OP lives (which he does not reveal) but where I live, $252,000.00 in my pocket would last long time. A REAL LONG TIME. I could get a different house with more room and add some pins. Maybe even buy a new car. I could even afford to give some to a charitable organization.

But someone coming on and raising a stink because he only has enough money leftover to buy 4 new mid-engine Corvettes instead of 5 is my problem.

As I said to the OP, he does not get my sympathy. I'm glad he is making a lot of money. But I don't care that he had to "suffer" the standard percentage tax bite.

The ones who I do feel sorry for are those who make $9700.00 and have to pay 10% of that and is left with $8700.00 to live on for a year.

My accountant tells me every year "the good thing about your tax bill is that you made enough money this year to cover it".
Still doesn't make me feel better about cutting a check every year.

You make some assumptions, you don’t know if this it the total tax bill or additional amount owed. Or a quarterly or annual payment.

You spent way too much time trying to figure out somebody’s income and making assumptions for something that doesn’t even matter, He could be paying taxes on a small business and you would have no idea what his profit is. Or, he could be rolling in it and this is a quarterly tax payment. At the end of the day, it only matters to Frank.

I dont care how much you make, that is painful haha.

I dont think they are looking for sympathy. I do think we need to stop vilifying success in this country though. I am far from rich, but in comparison to many, many other places in this world I am much better off.

On another note, I clicked this thread thinking it was potentially the worst idea for a pinball theme of all time, lol. Thats awesome to see they are taking care of you! Enjoy!

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I’m divided in my opinion. Hate to pay so much in taxes but am fortunate to have a good income that affords me to pay that money.

I’m just mad when the government wastes taxpayers money.

You’re also missing a much bigger assumption. I’m self employed and owner of a single member LLC. Which means my company is taxed as an individual. I write checks bigger than that sometimes to the IRS, but I’m paying taxes for me and 5-6 employees on a quarterly basis (I have to submit the taxes that are withdrawn from their paychecks). Each individuals income is modest (enough to buy some NIB pins once in a while), but it all adds up to contribute to the IRS. I figure we’re all contributing to the economy and helping fund the nation (a whole different topic)... and keeping people working is probably a good thing.

I agree. I have made some heroic assumptions in an attempt to extrapolate a man's income based on nothing more than a check showing a specific dollar amount going to the IRS. You are correct; This could be an estimated quarterly IRS payment, which in that case my plug-in numbers need to be multiplied by four and a 37% tax rate would be assumed.

Very few people working for wages are going to be paying $98,000 in taxes. Is Frank self-employed? He does not say. Is this check a check that includes the taxes of employees? He does not say. So,yes, I made several assumptions. And I assumed Frank is making a lot of money.

I am not vilifying his success. I wish I was in a financial position that I would be required to, and be able to afford to write a check for that amount of money.

All I'm saying is in this country, you can go anywhere and apply for any job from coast to coast and unless it is some very special job that requires beaucoup qualifications you can get any job you go after. That's a privilege.

Would you like to start a business? In most cases, if you wish to risk your money to fund a start-up, you will find little restriction. That's a privilege.

In my state, if you wish to start a used car lot, all you have to have is a car lot big enough for 6 cars, a telephone number, a business sign, and liability insurance. It takes money, but if you can do all of this, the state guy will come by and have a look and if you qualify you can start your business. It is that simple.

And for the privilege of being able to do all of this, you need to be aware that you will be paying a lot of taxes. If you are retail you are required to collect state sales tax and every month you have to pay the state. You have to collect Social Security tax. You have to collect state income tax. You have to collect federal income tax. You have to pay unemployment taxes. And they are all a pain in the ass to deal with. I've been there. Now the trick you have to master is how to make your company a profitable company.
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I would have been elated to have been able to write a check to the IRS for $98,000.00. It would mean that I laid into a windfall, have an extremely well paying job, or a profitable business. I would not feel right in carping about the taxes.

But I also agree with Warren Buffet. It is not right that his secretary pays more in taxes than he does. The uber rich game the system and get all kinds of tax breaks not available to us mere mortals.

Location has lots to do with income. Just saying..

Just a comparison example:

Median Household Income
Households in Darien, CT have a median annual income of $208,848, which is more than the median annual income of $60,336 across the entire United States. This is in comparison to a median income of $208,125 in 2016,

Wichita Kansas Household Income
The Census ACS 1-year survey reports that the median household income for the Wichita Kansas metro area was $54,432 in 2017,

Deleted. I wrote a thoughtful post about all of us that are hustling every day and have great lives but would not consider ourselves rich but decided to scrap it before hitting submit. It's a mindset thing that you either get it or you don't. Instead, I will give kudos to everybody at all economic levels that are bringing positive economic impact to themselves, their communities, and the companies they work for. Keep pushing.