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quick-anyone here an accountant?
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groovypeg
:)
Member since 5/05 2423 total posts
Name:
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quick-anyone here an accountant?
can someone help me out quickly?
dh got a check for $8535, after taxes it was $4793. fed with was 2416, ny 674, fed 529 and fed med 123. he claims fed married 4 and nys married 2.
my question:
are these withholdings correct? i can't believe that nearly half the check went to taxes.
Message edited 12/7/2007 12:52:43 PM.
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Posted 12/7/07 12:47 PM  |
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Long Island's Largest Bridal Resource |
MrsSteflily
I love chocolate
Member since 4/06 2047 total posts
Name:
Stef
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Re: quick-anyone here an accountant?
Not an accountant but...
Was it a bonus check? If yes, then Fed and maybe state would be a flat percentage no matter what he claims.
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| Posted 12/7/07 1:19 PM |
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Re: quick-anyone here an accountant?
yeah, larger checks always have tons taken out... I had a similar situation when I received a large check with back-pay. you'll get it back on 4/15 
(also not an accountant)
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| Posted 12/7/07 1:24 PM |
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groovypeg
:)
Member since 5/05 2423 total posts
Name:
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Re: quick-anyone here an accountant?
it wasnt a bonus but it was i think reinbursment for not using his paid time off. i am not sure what kind of check its considered.
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| Posted 12/7/07 1:32 PM |
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DanaRenee
Fitness Junkie!
Member since 6/06 6470 total posts
Name:
Dana
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Re: quick-anyone here an accountant?
Yes that sounds right to me...and I'm an accountant
On his check the Fed withholding was 25% & NY was 8%...typical
And these percentages are the same for everyone...
Social Sec 6.2% x 8535 = $529
Med 1.45% x 8535 = $124
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| Posted 12/7/07 1:54 PM |
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pinkandblue
Our family is complete, maybe
Member since 9/05 32436 total posts
Name:
Stephanie
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Re: quick-anyone here an accountant?
Posted by DanaRenee
Yes that sounds right to me...and I'm an accountant
On his check the Fed withholding was 25% & NY was 8%...typical
And these percentages are the same for everyone...
Social Sec 6.2% x 8535 = $529
Med 1.45% x 8535 = $124
yup, as much as it *****, that is right 
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| Posted 12/7/07 2:15 PM |
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