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  1. #1
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    Default Tax deductions on a paycheck

    Is there guidelines for this ? Doesn't $800 off a $2000 paycheck seem a bit much ??

    We're trying to figure out if payroll made a mistake again.

    For some reason I am thinking that it's 15% on the first $40 000-ish of taxable income, but maybe I'm wrong.

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    I think it's closer to 33% isn't it? I know we get a lot taken off
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    There definitely are guidelines and rules, it all depends on what the deductions are for, and how long the pay period was. So, if it was for 1 week, then the $2000 gets annualized and taxed at an assumed annual income of $104,000, if it was for 2 weeks taxes are taken assuming a $52,000 annual pay. This is why some people who work a lot of overtime want to take the time in lieu, not the pay. For government deductions use this calculator:

    Payroll Deductions Online Calculator - Disclaimer

    You will also have to consider any other company deductions like pension, benefit premiums, union dues etc. They can add up quickly.
    Last edited by Pomegranate; 07-29-2011 at 08:58 AM.

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    $2000 would mean $52000 a year, so part of it would be taxed at the next tax bracket.

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    Quote Originally Posted by BemusedMom View Post
    There definitely are guidelines and rules, it all depends on what the deductions are for. For government deductions use this calculator:

    Payroll Deductions Online Calculator - Disclaimer

    You will also have to consider any other company deductions like pension, benefit premiums, union dues etc. They can add up quickly.
    thanks for the link

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    Seems a bit high if it's just taxes. As pp said it could be with other deductions that the company has. Is it just straight salar or was there a bonus in there as well? If there is a bonus it is taxed differently.
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    Quote Originally Posted by laurana'smom View Post
    Seems a bit high if it's just taxes. As pp said it could be with other deductions that the company has. Is it just straight salar or was there a bonus in there as well? If there is a bonus it is taxed differently.
    No bonus.

    I used the calculator and I pretty much get the same amount.
    It's ridiculous how much they take off!

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    Quote Originally Posted by mrs_williams View Post
    No bonus.

    I used the calculator and I pretty much get the same amount.
    It's ridiculous how much they take off!
    Yep it is I know how you feel. DH makes a decent buck BEFORE taxes are taken off. A huge portion of his paycheque goes to paying taxes and yep, it sucks if you're in that boat IMO. He has to work his 1st weekend in a # of years @ the end of August because they're going to be moving the gov't office he works in to a different location and we're already anticipating a huge chunk of the $ he'll make that weekend will go towards paying taxes He doesn't normally get OT pay for OT worked but does for things such as moves & right about now we would REALLY use the cash!

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