Starbucks Baristas: The daily grind
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Help!! (Paycheck questions) (self.starbucksbaristas)
submitted by New-Fault-9612
Hi everyone! I'm a very green bean and I just wanted to ask how much tax and other deductions are being taken from my paycheck. I worked 48.5 hours for 2 weeks + 3 hours off cycle pay, and got 730 deposited on my acc. I believe my rate is around 16.2. Thank you!
BlackberryOpposite31 2 points 1y ago
There is a place where you can view your paystub your see a breakdown of taxes and everything. Access MyPartnerInfo through partner hub and sign in to view paystubs. I believe they come up as a pop up so make sure those are enabled in your browser. If you worked 48.5 hours plus the other 3 making $16.20 then before tax that’s $834.30 so $730 sounds about right. If you have anymore questions you should reach out to an SSV or your SM while at work and they should be able to help you view paystubs on the computer at work.
New-Fault-9612 [OP] 1 points 1y ago
Thank you!! 😊
SportsChick79 1 points 1y ago
Tax rates are going to depend on what you claim on your W4 as well as if you have state taxes (so I claim single, 0 dependents even though I'm married to have the most taxes taken out. I use that to help offset my small business income taxes). I live in Florida where we do not have state income tax.
MungotheSquirrel 1 points 1y ago
You can pull up your paystub...well, I guess usually you can. They happen to be moving all that to a new site right now, so maybe you can't look at it exactly now. But you'll be able to see your itemized gross pay and withholdings, which sounds like it's just taxes at this point.
What is your question really, though? Are you worried the amount being withheld for taxes isn't right? The IRS has a withholding calculator you can use to estimate what you should withhold for your ideal amount of refund or amount due each year.
Or is there something else that concerns you about these amounts?
What is your question really, though? Are you worried the amount being withheld for taxes isn't right? The IRS has a withholding calculator you can use to estimate what you should withhold for your ideal amount of refund or amount due each year.
Or is there something else that concerns you about these amounts?
New-Fault-9612 [OP] 1 points 1y ago
Hello! Thank you for this! I was just worried that my off cycle pay was not included coz I don't wanna bug my manager again 😅. It's my first job also, so I'm rlly confused about the taxes. Thanks again!
MungotheSquirrel 2 points 1y ago
Okay, sure. I'd have expected you to get a really tiny paycheck for those first 3 hours two weeks ago, but maybe they do it differently if it's so few hours to pay out. Ask a Shift or Manager to help you see if you can access your pay stub right now, but you may have to wait til they finish the new site. I did the same math as the other commenter and agree that the amounts seem reasonable, but it's worth checking.
You can also ask one of the older people there if you have other tax questions or whatever. We old people know things.
(And since I'm old and know things, indulge me here: in a couple more months you'll get information from Fidelity about setting up retirement accounts and it will be really confusing. Please do work through it, ask for help if you need to, so that you can establish your 401k and contribute 5% of your pay to it. Starbucks will match that and deposit the same amount, effectively increasing your pay to do that. Money you put into your 401k during your teens and twenties will be worth SO MUCH when you retire.)
You can also ask one of the older people there if you have other tax questions or whatever. We old people know things.
(And since I'm old and know things, indulge me here: in a couple more months you'll get information from Fidelity about setting up retirement accounts and it will be really confusing. Please do work through it, ask for help if you need to, so that you can establish your 401k and contribute 5% of your pay to it. Starbucks will match that and deposit the same amount, effectively increasing your pay to do that. Money you put into your 401k during your teens and twenties will be worth SO MUCH when you retire.)
Affectionate_Fart 2 points 1y ago
I had $1400 in my account six years ago, now it’s around $4,500 that I’ve never touched.
MungotheSquirrel 2 points 1y ago
Yep, and that is peanuts compared to what it will become by retirement age! I wouldn't expect the market to maintain a 3-year doubling period over the longer term, but even if you half those gains to doubling every 6 years (still pretty optimistic, but not unreasonable), and let's assume you put that $1400 in when you were 25.
Age 25: 1400 (takes 6 years to double, which it didn't in this case, but let's use it anyway)
31: 2800
37: 5600
42: 11,200
48: 22,400
54: 44,800
60: 89,600
66: 179,200
Your $1400 put into a retirement account early in life became enough money to live on for several years by retirement age. If you wait until you're 30 to start with that original $1400, you lose the time it takes to get that last doubling period. But if you were actually 19 when you started instead of 25, you'd gain another doubling period! Over $300k from your $1400 input when you were 19!
So again, expecting your slow and steady retirement accounts to double every 6 years is a bit optimistic, but the idea is the same.
IF THIS IS YOUR COLLEGE JOB, OR THE JOB YOU HAVE WHILE DECIDING WHETHER COLLEGE IS FOR YOU OR NOT, FOR THE LOVE OF GOD, OPEN THE 401K. Put in 5%. Starbucks will match that with another 5% from them. Live your life for the next 40 years, continuing to add money to your accounts. Boom. Retirement is possible because you were a smart, informed 20-year-old.
Age 25: 1400 (takes 6 years to double, which it didn't in this case, but let's use it anyway)
31: 2800
37: 5600
42: 11,200
48: 22,400
54: 44,800
60: 89,600
66: 179,200
Your $1400 put into a retirement account early in life became enough money to live on for several years by retirement age. If you wait until you're 30 to start with that original $1400, you lose the time it takes to get that last doubling period. But if you were actually 19 when you started instead of 25, you'd gain another doubling period! Over $300k from your $1400 input when you were 19!
So again, expecting your slow and steady retirement accounts to double every 6 years is a bit optimistic, but the idea is the same.
IF THIS IS YOUR COLLEGE JOB, OR THE JOB YOU HAVE WHILE DECIDING WHETHER COLLEGE IS FOR YOU OR NOT, FOR THE LOVE OF GOD, OPEN THE 401K. Put in 5%. Starbucks will match that with another 5% from them. Live your life for the next 40 years, continuing to add money to your accounts. Boom. Retirement is possible because you were a smart, informed 20-year-old.
New-Fault-9612 [OP] 1 points 1y ago
Thank you so much! I will definitely try to ask a co worker to show me around the websites since I'm very new to it. Thank you for your big help and I hope you have a good week!
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