| Posted By |
Message |
Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
|
Payroll Question...
my new job is going to pay me weekly now
do they tax alittle less taxes this way? I am trying to figure out my new budget
but I remember getting first paychecks for only 1 week and it was always alittle more then I would get for 2 weeks
|
Posted 8/28/07 9:31 AM  |
| |
|
Long Island Weddings
Long Island's Largest Bridal Resource |
Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
|
Re: Payroll Question...
It should be the same tax.
|
| Posted 8/28/07 9:38 AM |
| |
|
GoldenRod
10 years on LIF!
Member since 11/06 26792 total posts
Name:
Shawn
|
Re: Payroll Question...
Taxes are figured out for yearly earnings, then split up per check. As long as you are making the same salary, the total taxes at the end of the year will be the same.
|
| Posted 8/28/07 9:40 AM |
| |
|
mtg1970
We love summer!
Member since 5/05 1063 total posts
Name:
Teresa
|
Re: Payroll Question...
Posted by GoldenRod
Taxes are figured out for yearly earnings, then split up per check. As long as you are making the same salary, the total taxes at the end of the year will be the same.
Yes this is correct.
|
| Posted 8/28/07 9:44 AM |
| |
|
Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
|
Re: Payroll Question...
Posted by GoldenRod
Taxes are figured out for yearly earnings, then split up per check. As long as you are making the same salary, the total taxes at the end of the year will be the same.
rats! I am making more money
so more taxes- I just hope I didn't get pushed up a bracket- I need to look that up
|
| Posted 8/28/07 9:44 AM |
| |
|
Christine
2nd verse same as the 1st
Member since 5/05 15287 total posts
Name:
|
Re: Payroll Question...
You can google paycheck caluclator to get a rough idea of what your check will be.
|
| Posted 8/28/07 9:45 AM |
| |
|
GoldenRod
10 years on LIF!
Member since 11/06 26792 total posts
Name:
Shawn
|
Re: Payroll Question...
Posted by Beth1210
rats! I am making more money
Not a phrase you hear too often.... 
You can give the extra to me, if you want... I'll even pay the taxes on it. 
|
| Posted 8/28/07 9:49 AM |
| |
|
Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
|
Re: Payroll Question...
Posted by GoldenRod
Posted by Beth1210
rats! I am making more money
Not a phrase you hear too often....
You can give the extra to me, if you want... I'll even pay the taxes on it.
I am excited about the more money- trust me!!!!!!
|
| Posted 8/28/07 10:04 AM |
| |
|
MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
|
Re: Payroll Question...
Tax Brackets
Beth, if you file married filing jointly, then it depends on your DH's income too.
|
| Posted 8/28/07 10:11 AM |
| |
|
Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
|
Re: Payroll Question...
Posted by Meaghan729
Tax Brackets
Beth, if you file married filing jointly, then it depends on your DH's income too.
thank you- I have no idea how much Jake is going to make this year- but think we should be in the same tax braket as last year-
|
| Posted 8/28/07 10:37 AM |
| |
|
Kara
Now Zagat Rated!
Member since 3/07 13217 total posts
Name:
They call me "Tater Salad"
|
Re: Payroll Question...
Posted by Beth1210
Posted by GoldenRod
Taxes are figured out for yearly earnings, then split up per check. As long as you are making the same salary, the total taxes at the end of the year will be the same.
rats! I am making more money
so more taxes- I just hope I didn't get pushed up a bracket- I need to look that up
You'll still be taking home more money even if you do go up a tax bracket. 
|
| Posted 8/28/07 11:47 AM |
| |
|
GoldenRod
10 years on LIF!
Member since 11/06 26792 total posts
Name:
Shawn
|
Re: Payroll Question...
Also, keep in mind, that the higher tax bracket is only for the amount about the cutoff.
These aren't real numbers, just an example...
40k = 15% tax = $6000
45k = 20% tax
= $6000 for first 40k
+ $1000 for next 5k
= 7000 total
not $9000, which is 20% of the entire 45k
|
| Posted 8/28/07 2:53 PM |
| |
|
Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
|
Re: Payroll Question...
Posted by GoldenRod
Also, keep in mind, that the higher tax bracket is only for the amount about the cutoff.
These aren't real numbers, just an example...
40k = 15% tax = $6000
45k = 20% tax
= $6000 for first 40k
+ $1000 for next 5k
= 7000 total
not $9000, which is 20% of the entire 45k
ahhh- that makes sense!
|
| Posted 8/28/07 2:57 PM |
| |
|
