Monday, August 25, 2008

Another set back

I just went to transfer my yearly bonus into our money market account so it wouldn't disappear into the abyss of school shopping and credit card payments and would still be available when I need to write checks to the surgeon, the hospital and the anesthesiologist. This is when I discovered that my company took out more than 50% in various deductions.

This includes some for SSI -- which I am going to top out on before year end anyway so taking it out of the bonus was just mean -- and also my normal contribution into my 401k, which I never planned on happening and now I'm at risk of putting in more than that allowed yearly limit. They also took out the federal taxes at the normal rate instead of the reduced rate they used to use for bonuses. Which is going to increase my tax refund well passed an reasonable amount.

Not to mention, now I have about $5000 less on hand than I expected right when I need a huge wad of cash to pay for my surgery.

On the one hand, it feels petty to complain about a bonus -- not everyone gets these and I did get a nice one. But on the other, this is going to cause me all sorts of troubles in the future including pissy letters from the IRS when I have a massive refund for the third year in a row and having to fill out forms to deal with the overpayment on the 401k, not to mention the cash flow issues with my surgery.

I don't understand why getting this surgery has to be so difficult. Every time I turn around something is going wrong.
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