Less than impressed
After a very long struggle, I’ve finally received a check for tuition reimbursement which was part of the hard-bargain I drove last summer. The amount due me was $3,750. To my surprise, it was subject to the usual gauntlet of taxes, as if it were part of my normal income. This fucks me in several ways, not the least of which is moving me up a few tax brackets… I swear to god, if the IRS says I owe them money next year, heads will roll.
But it also fucks my employer. That check cost them, give or take, $4,000 – because they had to pay their half of the OASDI/SS//Alphabetsoup taxes. This is the breakdown:
Uncle Sam (via Federal Income Tax) $812.06
Grandpa & Grandma (social security) $465.00*
Welfare (via Medicare) $54.38
Michigan $146.25
By declaring my education ineligible (merely because it prepares me for a different career – seriously, this is one of the yardsticks by which they determine eligibility) the various governments rake in about $1400 in revenue.
* to determine this amount, I simply doubled my withholding to make up for the employer’s share.