Hot answers tagged

133 votes

50k job is offering 90k worth of shares. Scam?

That would likely be a startup. So they need a developer who can ask for a good salary, but they don't have that much money. So instead they offer shares. If the company is successful, due (in part)...
  • 21.2k
116 votes

How can I break the cycle of taking on more debt to pay the rates for debt I already have?

Your expenses are currently higher than your income! This is your priority #1! I cannot stress enough that if you take on new debt in order to make payments on old debt, that is often the last stage ...
81 votes
Accepted

Company stopped paying my salary. What are my options?

If it was me, I would count the bonus lost. You need money to live, and they are not paying you so the answer is obvious: seek another job (or three). I'd have a chat with your manager about you ...
  • 75k
78 votes
Accepted

Is a higher salary worth not having a 401(k)?

From a long-term planning point of view, is the bump in salary worth not having a 401(k)? In this case, absolutely. At $30k/year, the 4% company match comes to about $1,200 per year. To get that ...
  • 117k
58 votes
Accepted

How are people able to spend more than what they make, without going into debt?

That's just his base salary for last year. Keep reading in the article: He also received $1.6 million worth of securit[ies]. Plus, he's probably earned plenty in salary, bonuses, and other ...
  • 117k
53 votes
Accepted

How to protect an employee's wages before the company declares bankruptcy?

When a company files for bankruptcy there is no guarantee that they will be able to satisfy any of their debts. Assuming chapter 7 bankruptcy, the employees with unpaid wages become creditors. Assets ...
  • 65.5k
49 votes
Accepted

Are there any downsides to having a bigger salary rather than a bonus?

There is no downside for you but there is for the company. If the company has a bad year, it can stop your bonus but it can't reduce your salary (or at least that is much harder to do). When is the ...
  • 7,383
48 votes

How to manage monthly salary

A simple budget spreadsheet is fine for this. In one tab, track all your income: - take-home money from employment (use an online calculator to estimate if you only know your gross salary, but ...
  • 21.8k
47 votes

Company stopped paying my salary. What are my options?

Not paying your salary is a form is constructive dismissal. That is grounds for filing an unemployment claim — possibly the fastest way to get money for paying bills that doesn't put you into further ...
  • 1,704
40 votes
Accepted

Is it a good practice to keep salary account and savings account separate?

This seems like a risky setup. All it takes is one missed or delayed transfer for you to overdraw your "savings". There is a benefit to keeping your regular expenses and savings separate, and I can ...
  • 117k
33 votes

Job offer in Sweden: Confused about the salary breakdown

First off, for any questions relating to taxation in Sweden, it's a good idea to contact Skatteverket (the Swedish tax agency). The people there are generally happy to help, and also generally want ...
  • 4,589
32 votes

Is a higher salary worth not having a 401(k)?

4% of 30k ($1,200) is dwarfed by an $18,000 base pay increase. At 48k maxing out IRA will take ~11.5% of gross income, so at current position (30k salary) 401k contributions would likely be limited to ...
  • 65.5k
31 votes

Company stopped paying my salary. What are my options?

My fear is if I resign I will not get paid my salary or my bonus. You will almost certainly get paid your salary up through the time you stop working. You might need to have a lawyer fetch it for ...
  • 20.8k
27 votes

How to manage monthly salary

Vicky provided a great answer and I agree that a spreadsheet is good for budgeting, some of the budgeting apps available make it easier to track spending or resolve deficits/overages in your budget, ...
  • 65.5k
26 votes
Accepted

Employer skipped payments, should I allow them to defer payment until Jan 2017?

First, let's look at the tax brackets for single taxpayers in 2016: Taxable Income Tax Rate $0—$9,275 10% $9,276—$37,650 $927.50 plus 15% of the amount over $9,275 $37,651—$91,150 $5,183.75 plus ...
26 votes
Accepted

Overpaid by employer, will I lose out on my income tax allowance?

You should ask your employer to issue an updated payslip showing the correct gross salary, deductions and net salary, and then repay to the employer the difference between the net salary in your old (...
26 votes

How to manage monthly salary

I think there are a couple of budgeting tools that have served me very well. Consider the big picture Think about money in terms of years, not paychecks. Netflix isn't just $12 per month, just one ...
  • 48.6k
25 votes

How can I break the cycle of taking on more debt to pay the rates for debt I already have?

Your situation looks like you are in deep s**t. You have to be absolutely brutal to get out of this, or you will drown in debt. I suggest: Find any way possible to make more money. Overtime, weekends,...
  • 21.2k
22 votes

Company stopped paying my salary. What are my options?

When you work for a company, there are a lot of expectations of you: prompt attendance, follow instructions, accept criticism, handle all the work stress, and all the things that go with good ...
  • 23.8k
21 votes
Accepted

Are there contracts for fixed pay vs. fixed pay rates?

Yes. I have personally signed such contracts (fixed budget software development) and lost money every single time. And yes, it is quite possible for you to get paid under minimum wage if you take too ...
  • 532
21 votes

How are people able to spend more than what they make, without going into debt?

Rich people use debt for various reasons. The question should not assume that billionaires don't use debt. They also pay lower interest rates on that debt because they have enough collateral that ...
19 votes

No taxes were taken out of my paycheck. Is this a mistake?

Your employer won't start deducting tax until you have been paid enough money that you will owe tax. British PAYE taxes are designed to deduct exactly the right amount of tax for the amount you have ...
18 votes

Company stopped paying my salary. What are my options?

You should alert the NY State Department of Labor here. Failure to pay salary is unlawful. I have to warn you, most people's experience is that they never get paid anything. In California, employee ...
18 votes

How can I break the cycle of taking on more debt to pay the rates for debt I already have?

I do know that I have to control my credit cards expense. But I am at a point where I have to use credit cards to keep things running. Getting more income, as another answer suggests might help, as ...
  • 9,035
18 votes

How to Convert UK Income Levels to USA Income Levels

Having once had to do this while moving from the UK to Canada, I can say that there isn't a straightforward conversion rate. Things you need to take into account: Currency exchange rate Cost of ...
17 votes

Why might Social Security employee deductions from paycheck vary across pay periods?

Social Security tax only applies to the first $118,500 you earn in a year. See the Social Security Administration's website for more info. You should see a 6.2% increase in after tax earnings now. If ...
  • 1,230
16 votes
Accepted

Can a company pay a net salary?

In Singapore, this is sufficiently common that the Singapore IRS has a page on their website dedicated to informing employers of how to properly pay this under Responsibilites of an Employer. ...
  • 35k
15 votes

What is a reasonable salary for the owner and sole member of a small S-Corp?

The answer depends on this: If you had to hire someone to do what you are doing in the S-corp, what would you pay them? If you are doing semi-unskilled work part-time, then $20k might be reasonable. ...
14 votes
Accepted

How to Convert UK Income Levels to USA Income Levels

As a European who's currently living in North America, I feel that there's a lot of confusion over salary comparisons between different markets. Let’s break it down step by step: Currency First of all,...
  • 5,533
13 votes
Accepted

Why my bi-weekly salary after taxes doesn't sum up my yearly income

In some months there are three biweekly payments. If you multiply $3846.15 by 26 (the number of biweekly periods in the year) you get $99999.90. I wouldn't worry about the extra ten cents.

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