tax question
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- 24 Responses
- pr20
what do u mean?
- pr20
No man, every single of the checks is wage. What i can't comprehend is:
On $1200 i got $775 (%64 of the original rate)
On $600 i got $454 (%76 of the original rate)
On $300 i get $220 (%73 of the original rate)So like getting paid very little ($300) takes away more money then when getting paid more ($600). None of it makes sense.
- digdre0
no reason to worry, obama cuts your taxes by 95%
- uhmd_rek
- That's not what he said. He said he would cut tax for 95% of Americans.iliketocreate
- no he said , for working familiesdigdre
- in the usdigdre
- didn't he?digdre
- No far from it, he will increase taxes, thats simple politics republicans lower Dem;s raise them.silentseven
- you suck ballsdigdre
- He's only increasing taxes for wealthy families. 150K and over.dirtydesign
- ninjasavant0
do they itemize the deductions?
- matt310
are you on the staff or operating it through your own business? if you are not on staff they should take no tax.
- zarkonite0
if they pay per set periods of time, they have to extrapolate your salary to a yearly amount in order to define your tax bracket. So if one cheque was 1200 and the other 600 then they project 600$ x 26 pay periods = yearly tax bracket. Since that makes you look like you're making half of what you would if you were making 1200 x 26 then you're most likely to be taxed differently...
- akrokdesign0
On $1200 i got $775 (%64 of the original rate)
is actually is just slightly more then 33% tax. your in N.Y so there might be 35% or more.
- pr20
yes on $1200
fed 260
fica-ss 74
fica-med 17
res st 73on $600
fed 75
fica-ss 37
fica-med 9
res st 24
- acescence0
i think what zarkonite said is correct, but i think it will all even out at the end of the year when it comes time to file, as they will then know your total income for the year and what you pay or are owed will be calculated
- but i would just ask finance department for a definitive answeracescence
- skelly_b0
I would have a talk with there accounting department. As an independent contractor I would be pissed. For all they know you could be claiming a loss and owe no taxes at the end of the year. DO they do this with other vendors, I doubt it. Imagine if you handed an electrician his check with taxes taken out.
- acescence0
whether or not you're a freelancer, they're not treating you as a contractor, you're obviously on payroll, which actually may work out to your advantage...
if they took nothing out and you paid taxes on it as contractor income, you would pay an even higher tax rate. the employer pays an amount that never gets subtracted from your check which you will then be responsible for
- NONEIS0
yeah, don't let them take it off the top, but those numbers DO make sense...
- pr20
i'm a freelancer so i'm definitely not on the staff.
- PonyBoy0
if you're freelancing... why are you having taxes taken out?... if you get a w2 from them at the end of the year... you're an employee... else you'd get a 1099... right?
- exactly. if you are 1099 you should just get a fat check with nothing taken outflashbender
- skelly_b0
Though an employer does pay half your federal taxes (not including FICA and state) it comes off the top. As a contractor you get to spend your money on your business then get taxed on what's left over.
- cashface0
Where's hedge when you need him
- akrokdesign0
i think thats the same thing, like when i got my bonus check...then they had took out tax etc.
- akrokdesign0
no matter, you still going to have to write stuff off or they still want more cash out of you.