Tax deductions on the paycheck

[KJC 1]

My first paycheck was for 1 weeks work, and I had 13% deductions in taxes.

My next paycheck was for 2 weeks work and I had 21% deductions in taxes.

I have no idea why this is. The only thing that changed was that I got 2 weeks pay at once as I'm on fortnightly pay. Do you get taxed extra for fortnightly pay?

That would be crazy if true.

[YuAndDan 153]

When income increases, so does the tax rate. Your first pay check looked like you were paid half your normal 2 week pay so had tax calculated at a lower rate.

I suspect you will see 21% from now on.

[aidan80 9]

Good god!.. 21% that can't be right.. can it?.. actually I is.. I counted up my own cheque, what I get after taxes and it's fairly close to 21%.. that's sick 21% in taxes and what do we get in return?.. not a whole fcukin lot!.. At least back home there where real befits to higher taxes!

[MrsCat 6]

Good god!.. 21% that can't be right.. can it?.. actually I is.. I counted up my own cheque, what I get after taxes and it's fairly close to 21%.. that's sick 21% in taxes and what do we get in return?.. not a whole fcukin lot!.. At least back home there where real befits to higher taxes!

you get the protection of the best military in the free world

and nothing else.

[Ian + Anne 0]

US Taxes taken from wages can add up to 35% depending on how much you earn.

Mine is 21.5% per two weeks.

[Otto 83]

My first paycheck was for 1 weeks work, and I had 13% deductions in taxes.

My next paycheck was for 2 weeks work and I had 21% deductions in taxes.

I have no idea why this is. The only thing that changed was that I got 2 weeks pay at once as I'm on fortnightly pay. Do you get taxed extra for fortnightly pay?

That would be crazy if true.

The average for federal, Social security and Medicare withholding is 23%.

Check HERE for a pretty cool little site.

[anitacastillo 0]

Good god!.. 21% that can't be right.. can it?.. actually I is.. I counted up my own cheque, what I get after taxes and it's fairly close to 21%.. that's sick 21% in taxes and what do we get in return?.. not a whole fcukin lot!.. At least back home there where real befits to higher taxes!

Welcome to the US !

[KJC 1]

I can't believe you get taxed extra for fortnightly pay?

I seem to remember a job I had in the UK when I wasn't on weekly pay and I was more or less taxed at the same rate as weekly pay.

So does EVERYONE get taxed extra if they are not fortunate enough to have weekly pay? Why have anything other than weeky pay if that is the case?

I only earn $10 per hour in this job

[Y's_habibitk 2]

it depends on how many exemptions you claim also

sucks eh?

[aidan80 9]

Good god!.. 21% that can't be right.. can it?.. actually I is.. I counted up my own cheque, what I get after taxes and it's fairly close to 21%.. that's sick 21% in taxes and what do we get in return?.. not a whole fcukin lot!.. At least back home there where real befits to higher taxes!

you get the protection of the best military in the free world

and nothing else.

That'll just makes me feel so much better.. now that I don't have to worry about putting up with another occupation force.. all thats left to do is complain about the taxes and the lack of social health care

[PlatyPius 5]

Taxes vary based on how much you earn, how many deductions you claim, and how you get paid. There are different rates for weekly, biweekly, semi-monthly and monthly. I think monthly has the lowest taxes, but I don't know many people who can survive on a monthly paycheck - unless they make a lot of money or have a rather large savings account.

I get paid semi-monthly. It's annoying because you never really know how many workdays you're going to get paid for. Paychecks come out on the first and the 15th. Depending on how the weekends fall and how many days are in the month, you could have 15 days, you could have 10 days. I miss my weekly paychecks.

And yes... 21% is normal. You really only make $7.90/hour. Or, if you work 10 hours, you're working 2 hours for free. Or.... you work 476.2 hours to buy one toilet seat for the White House.

[Old Dominion 26]

Good god!.. 21% that can't be right.. can it?.. actually I is.. I counted up my own cheque, what I get after taxes and it's fairly close to 21%.. that's sick 21% in taxes and what do we get in return?.. not a whole fcukin lot!.. At least back home there where real befits to higher taxes!

And then you probably also have a state income tax to pay, plus other less noticeable taxes. You might be happier in Eire.

[Nich-Nick 3,353]

Here's the deal with income tax withholding from your paycheck. (Does not apply to Social Security or Medicare withholding)

What they take out of your check is based on a formula that is supposed to estimate what you will owe at year end when you file taxes. It is not some kind of punishment for getting your wages weekly, bi-weekly, monthly etc. You final tax bill is calculated when you file you income tax. Your final tax bill is based on what you earn in a whole year. The percentage of tax you pay depends on your income. If you earn below a certain amount and have a bunch of kids, they actually pay you some money called earn income credits. If you earn a small income you pay less percentage than higher income earners. If you earn a whole lot of money you might end up in the highest tax bracket.

If you get a little check, then the formula thinks you're a low wage earner and takes out like you're going to fall into the lowest bracket for the whole year. If you got some kind of giant bonus in one check, it might take out like your a super income earner. But in the end, it all comes out in the wash when you file. If the estimate of what was taken out was good, then you should come out close to even. If the estimate took out too much from your checks, you get a tax refund check when you file. If the estimate didn't hold out enough, then you owe more to the IRS and send in a check to pay the shortfall when you file taxes.

Here's a link about tax brackets http://www.moneychimp.com/features/tax_brackets.htm They change yearly depending on what Congress decides to do with taxes.

Social Security tax is a percentage of your wages up to a certain level. In 2008 it is 6.2% on earnings up to $102,000. After you cross $102,000 earned during 2008, they stop taking it out of your check for the rest of the year. More info on Soc Sec tax and Medicare tax rates.

http://www.ssa.gov/pubs/10003.html

[forchika 4]

I was just S-C-R-E-A-M-I-N-G about this same very thing....OSADI $92 in addition to the $43 for medicare....does not even include federal and state I want to protest....not sure what good that would do. Welcome to the goode ole US....the land where they tax you to death.....

[KJC 1]

Well if it's true I could get a tax refund due to be payed fortnightly, then I won't be so pissed off.

I don't see why I should pay extra tax because I'm getting paid fortnightly instead of weekly. Sure it's a higher check, but it's based on 2 weeks work and should not be considered for extra tax.