Again, it depends on how long until you expect to receive a similar offer. You're trying to solve a mathematical equation without filling in all of the variables.

Then I have no idea how much the salary would need to be to offset the retention bonus. You're asking about a mathematical calculation and can't provide all of the terms to make that calculation.

Depends on how long you expect it would be for you to get a similar offer.

No. What I'm saying is if you started at the new position today at 113% of your salary, it would take 8 months to break even on the retention bonus.

>If your offered a bonus to stay eight months and it's worth 20% of your annual salary how much does an offer need to be to accept it??

Well, technically speaking:

8/12 * 20% = 13.33%.

But that only works if you can get the same 20% 8 months from now.

Wild speculation it is, then.

What were boxes 1 and 2 on your W-2s?

>Last years W4s filled out as married filing jointly with the 2jobs check box. Filed taxes for last year and we owe $.

How much did you owe?

Both W-4s having MFJ with box 2(c) checked shouldn't result in owing anything substantial so long as:

• The two jobs are the only source of income.
• Your income comes from pay checks and not supplemental pay (commission, bonuses, etc)
• Your companies' software can properly handle box 2(c) and withholds appropriately.

Ignore who ever gave you that advice from here on out.

Studies have shown that higher outcomes seen for kids at private schools practically disappear when you control for socioeconomics.

If someone is unsure about their goals and wants to keep their options open, then yes, that would be considered a savings goal.

>how does the rest of your comment make any sense?

Very well, once you understand it.

>but having the money later gives you options

Part of "Any other savings goals"

>up for an earlier retirement,

Part of "Retirement goals"

>bigger down payment for a house

Part of "Short-to-medium term expenditure goals"

>larger inheritance for their kids,

Part of "Any other savings goals"

You realize people get to decide their own goals, right?

Saving money for the sake of saving money is unhealthy. If you're already meeting your:

• Rainy day fund goals
• Retirement goal
• Short-to-medium term expenditure goals
• Any other savings goals

...then continuing to save beyond that seems like it's pointless unless you literally can't think of anything to do with the money.

You realize a low refund just means you were accurate on your withholdings, right? Like a low refund is desirable because it means you aren't loaning the government money throughout the year.

>I hope to make a California gross income of 55-70k when I graduate and start saving instantly to buy a home. What can I do to set myself up for that?

Look East; because $70k per year will get you nothing anywhere near the coast.

> Are you able to explain to me what a 1040 is?

The main form you use to file your taxes. H&R block takes the information you put into their software, and fills out a 1040 (among other forms) in order to file your return.

Sounds like an amazing money making opportunity through arbitrage. What make/model?

So someone could make up to $8k by just transporting a car one state over? Color me skeptical.

The fact that you didn't include any useful information on the actual cost of the car and how much they make, I'm guessing it's going to be a pretty poor decision.

Yes, it splits the standard deduction and brackets in half.

No, you can set it to single. Or you can check box 2c, same thing at your income level.

>Can someone please help me try to understand this?

You both filled out your W-4s as if you were the only job holder. If you have a dual income household, you need to either both check box 2c or input an appropriate amount into 4c to account for the dual incomes.

You only made $200 in taxable income last year? How much did you make from interest and dividends?

If your work doesn't offer a 401k, and you're not eligible for a Solo 401k (think business owner with one employee), then yes, an IRA is recommended for retirement savings