My Full Time Check is $1,000 less than my SA...How?

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My Full Time Check is $1,000 less than my SA...How?

Postby Anonymous User » Fri Nov 03, 2017 1:53 pm

Same firm, same salary, same position. what gives???

Like I'm working WAY harder, and being paid LESS??

Please help me!!!

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RCSOB657

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Re: My Full Time Check is $1,000 less than my SA...How?

Postby RCSOB657 » Fri Nov 03, 2017 1:54 pm

Doing the obvious first to get it out of the way. Has your tax situation changed?

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Re: My Full Time Check is $1,000 less than my SA...How?

Postby Anonymous User » Fri Nov 03, 2017 1:55 pm

RCSOB657 wrote:Doing the obvious first to get it out of the way. Has your tax situation changed?


Nope, married filing jointly, same as last year

TEIAM

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Re: My Full Time Check is $1,000 less than my SA...How?

Postby TEIAM » Fri Nov 03, 2017 1:56 pm

healthcare? 401k?

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RCSOB657

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Re: My Full Time Check is $1,000 less than my SA...How?

Postby RCSOB657 » Fri Nov 03, 2017 1:57 pm

Anonymous User wrote:
RCSOB657 wrote:Doing the obvious first to get it out of the way. Has your tax situation changed?


Nope, married filing jointly, same as last year


Are you paying the same locality, school district, municipality, county, state, and fed tax? Has your withholding for anything changed? Are you on other company deductibles like insurance?

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Re: My Full Time Check is $1,000 less than my SA...How?

Postby Anonymous User » Fri Nov 03, 2017 1:58 pm

TEIAM wrote:healthcare? 401k?


Haven't done 401(k) yet, will in the next few days- healthcare is only $280, and I've factored that in already (otherwise paycheck would be 4300+)

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Re: My Full Time Check is $1,000 less than my SA...How?

Postby rpupkin » Fri Nov 03, 2017 1:58 pm

Anonymous User wrote:Same firm, same salary, same position. what gives???

Like I'm working WAY harder, and being paid LESS??

Please help me!!!

March into the managing partner's office and DEMAND an explanation! It's ultimatum time: Either the firm raises your take-home pay by $1,000, or you quit!!

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Re: My Full Time Check is $1,000 less than my SA...How?

Postby Anonymous User » Fri Nov 03, 2017 1:59 pm

RCSOB657 wrote:
Anonymous User wrote:
RCSOB657 wrote:Doing the obvious first to get it out of the way. Has your tax situation changed?


Nope, married filing jointly, same as last year


Are you paying the same locality, school district, municipality, county, state, and fed tax? Has your withholding for anything changed? Are you on other company deductibles like insurance?


In NYC, we moved 60 blocks (in Manhattan the whole time), but this paycheck was based on our old location.

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Re: My Full Time Check is $1,000 less than my SA...How?

Postby toast and bananas » Fri Nov 03, 2017 2:00 pm

Did your firm pay for your bar prep course, moving expenses, etc? That stuff counts as compensation and you get taxed accordingly. Not sure when this goes through - probably firm specific, but that may be why this check has more taxes taken out.

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Re: My Full Time Check is $1,000 less than my SA...How?

Postby Anonymous User » Fri Nov 03, 2017 2:01 pm

rpupkin wrote:
Anonymous User wrote:Same firm, same salary, same position. what gives???

Like I'm working WAY harder, and being paid LESS??

Please help me!!!

March into the managing partner's office and DEMAND an explanation! It's ultimatum time: Either the firm raises your take-home pay by $1,000, or you quit!!


Not sure how this was constructive, just trying to figure out how to plan my finances and pay off my loans that all. I know I'm in a fortunate situation, and I'm grateful to be in it- this wasn't meant as a humblebrag or anything like that.

I'd imagine if you were in this situation you'd be dismayed as well.

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Re: My Full Time Check is $1,000 less than my SA...How?

Postby MKC » Fri Nov 03, 2017 2:01 pm

Anonymous User wrote:
RCSOB657 wrote:Doing the obvious first to get it out of the way. Has your tax situation changed?


Nope, married filing jointly, same as last year


Yeah, but now you have a full year's salary to pay taxes on instead of 12 weeks, which pushed you into higher brackets.
Last edited by MKC on Sat Jan 27, 2018 1:17 pm, edited 4 times in total.

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Re: My Full Time Check is $1,000 less than my SA...How?

Postby TEIAM » Fri Nov 03, 2017 2:01 pm

toast and bananas wrote:Did your firm pay for your bar prep course, moving expenses, etc? That stuff counts as compensation and you get taxed accordingly. Not sure when this goes through - probably firm specific, but that may be why this check has more taxes taken out.

Some firms also give you the summer "stipend" that you actually have to pay back over the first few months.

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Re: My Full Time Check is $1,000 less than my SA...How?

Postby Anonymous User » Fri Nov 03, 2017 2:02 pm

toast and bananas wrote:Did your firm pay for your bar prep course, moving expenses, etc? That stuff counts as compensation and you get taxed accordingly. Not sure when this goes through - probably firm specific, but that may be why this check has more taxes taken out.


Thanks! This was a great call, but I had asked payroll what my check would be like after these temporary deduction had been taken off. (My check this week was wayyy lower than 4100 for those exact reasons).

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Re: My Full Time Check is $1,000 less than my SA...How?

Postby Anonymous User » Fri Nov 03, 2017 2:03 pm

TEIAM wrote:
toast and bananas wrote:Did your firm pay for your bar prep course, moving expenses, etc? That stuff counts as compensation and you get taxed accordingly. Not sure when this goes through - probably firm specific, but that may be why this check has more taxes taken out.

Some firms also give you the summer "stipend" that you actually have to pay back over the first few months.


Not mine. I'm working off the 4100 payroll said would be my check moving forward after the temporary deductions (bar stuff etc) was done with.

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Re: My Full Time Check is $1,000 less than my SA...How?

Postby TEIAM » Fri Nov 03, 2017 2:07 pm

Anonymous User wrote:
TEIAM wrote:
toast and bananas wrote:Did your firm pay for your bar prep course, moving expenses, etc? That stuff counts as compensation and you get taxed accordingly. Not sure when this goes through - probably firm specific, but that may be why this check has more taxes taken out.

Some firms also give you the summer "stipend" that you actually have to pay back over the first few months.


Not mine. I'm working off the 4100 payroll said would be my check moving forward after the temporary deductions (bar stuff etc) was done with.

I'm guessing this is your first check. You could have came in mid pay-period. Check the gross, is it $7,500 or $6,923?

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Re: My Full Time Check is $1,000 less than my SA...How?

Postby ur_hero » Fri Nov 03, 2017 2:25 pm

.
Last edited by ur_hero on Fri Nov 03, 2017 2:27 pm, edited 1 time in total.

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Re: My Full Time Check is $1,000 less than my SA...How?

Postby rpupkin » Fri Nov 03, 2017 2:26 pm

Anonymous User wrote:I'd imagine if you were in this situation you'd be dismayed as well.

If i was in your situation, I would take a few minutes to figure out my withholdings. And if I couldn't figure it out, I would call Payroll and ask questions. You need to calm down.

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Re: My Full Time Check is $1,000 less than my SA...How?

Postby Desert Fox » Fri Nov 03, 2017 2:39 pm

This is almost certainly a tax withholding issue. Many firms adjust withholding for summers knowing that hte tax rate for someone making 30k a year is >10%. But someone making 180k is over 20%.

If you didn't get a massive refund after SA year, this is the cause.
Last edited by Desert Fox on Fri Jan 26, 2018 11:50 pm, edited 1 time in total.

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Re: My Full Time Check is $1,000 less than my SA...How?

Postby Anonymous User » Fri Nov 03, 2017 2:48 pm

TEIAM wrote:
Anonymous User wrote:
TEIAM wrote:
toast and bananas wrote:Did your firm pay for your bar prep course, moving expenses, etc? That stuff counts as compensation and you get taxed accordingly. Not sure when this goes through - probably firm specific, but that may be why this check has more taxes taken out.

Some firms also give you the summer "stipend" that you actually have to pay back over the first few months.


Not mine. I'm working off the 4100 payroll said would be my check moving forward after the temporary deductions (bar stuff etc) was done with.

I'm guessing this is your first check. You could have came in mid pay-period. Check the gross, is it $7,500 or $6,923?


Not my first paycheck, and gross is 6,923.

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Re: My Full Time Check is $1,000 less than my SA...How?

Postby Anonymous User » Fri Nov 03, 2017 2:49 pm

Desert Fox wrote:This is almost certainly a tax withholding issue. Many firms adjust withholding for summers knowing that hte tax rate for someone making 30k a year is >10%. But someone making 180k is over 20%.

If you didn't get a massive refund after SA year, this is the cause.


So can I increase my withholdings? I once tried the IRS calculator and must've done something wrong because it said I can take 19 allowances which seems insane- I just took 2.

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Re: My Full Time Check is $1,000 less than my SA...How?

Postby Desert Fox » Fri Nov 03, 2017 2:55 pm

Anonymous User wrote:
Desert Fox wrote:This is almost certainly a tax withholding issue. Many firms adjust withholding for summers knowing that hte tax rate for someone making 30k a year is >10%. But someone making 180k is over 20%.

If you didn't get a massive refund after SA year, this is the cause.


So can I increase my withholdings? I once tried the IRS calculator and must've done something wrong because it said I can take 19 allowances which seems insane- I just took 2.


For your SA? if they don't adjust the withholdings, yea you can take like 19 allowances. But you can't do that when you start working for real.
Last edited by Desert Fox on Fri Jan 26, 2018 11:50 pm, edited 1 time in total.

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Re: My Full Time Check is $1,000 less than my SA...How?

Postby Anonymous User » Fri Nov 03, 2017 3:05 pm

Desert Fox wrote:
Anonymous User wrote:
Desert Fox wrote:This is almost certainly a tax withholding issue. Many firms adjust withholding for summers knowing that hte tax rate for someone making 30k a year is >10%. But someone making 180k is over 20%.

If you didn't get a massive refund after SA year, this is the cause.


So can I increase my withholdings? I once tried the IRS calculator and must've done something wrong because it said I can take 19 allowances which seems insane- I just took 2.


For your SA? if they don't adjust the withholdings, yea you can take like 19 allowances. But you can't do that when you start working for real.


Sorry I meant now. Can I take more than 2 withholdings? Or will I get an insane tax bill in April if I do?

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Desert Fox

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Re: My Full Time Check is $1,000 less than my SA...How?

Postby Desert Fox » Fri Nov 03, 2017 3:08 pm

Anonymous User wrote:
Desert Fox wrote:
Anonymous User wrote:
Desert Fox wrote:This is almost certainly a tax withholding issue. Many firms adjust withholding for summers knowing that hte tax rate for someone making 30k a year is >10%. But someone making 180k is over 20%.

If you didn't get a massive refund after SA year, this is the cause.


So can I increase my withholdings? I once tried the IRS calculator and must've done something wrong because it said I can take 19 allowances which seems insane- I just took 2.


For your SA? if they don't adjust the withholdings, yea you can take like 19 allowances. But you can't do that when you start working for real.


Sorry I meant now. Can I take more than 2 withholdings? Or will I get an insane tax bill in April if I do?


You probably can't do 19 for stub years. But 2 is prob a bit low for stub year. But for a full year, 2 is probably too high.

Unless you need the cash I'd stick with 2 and just file your taxes in Feb.
Last edited by Desert Fox on Fri Jan 26, 2018 11:50 pm, edited 1 time in total.

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Re: My Full Time Check is $1,000 less than my SA...How?

Postby Anonymous User » Fri Nov 03, 2017 3:37 pm

Desert Fox wrote:
Anonymous User wrote:
Desert Fox wrote:
Anonymous User wrote:
Desert Fox wrote:This is almost certainly a tax withholding issue. Many firms adjust withholding for summers knowing that hte tax rate for someone making 30k a year is >10%. But someone making 180k is over 20%.

If you didn't get a massive refund after SA year, this is the cause.


So can I increase my withholdings? I once tried the IRS calculator and must've done something wrong because it said I can take 19 allowances which seems insane- I just took 2.


For your SA? if they don't adjust the withholdings, yea you can take like 19 allowances. But you can't do that when you start working for real.


Sorry I meant now. Can I take more than 2 withholdings? Or will I get an insane tax bill in April if I do?


You probably can't do 19 for stub years. But 2 is prob a bit low for stub year. But for a full year, 2 is probably too high.

Unless you need the cash I'd stick with 2 and just file your taxes in Feb.


But what I don't understand is if I have the right number of allowances, how am I still making $1000 less than in the summer?

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Re: My Full Time Check is $1,000 less than my SA...How?

Postby MT Cicero » Fri Nov 03, 2017 3:47 pm

Folks are saying that someone in HR might have you at 3+ allowances as a summer (or you might've put that many in when filling out your W4 for summer employment based upon someone's good advice), and now you're somewhere below that.

"Correct" allowances generally means as close as possible to no tax liability or a huge amount owed come tax time. Well, in a year you'll make $35K, that's some number. In a year you'll make $80K, it's another. In a $180K year, it's yet another.

Do you happen to have some version of an E-pay stub for your summer and now? If so, it'll be pretty easy to determine what's what.



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