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malleus discentium wrote:Why was your first reaction "I should ask TLS" not "I should ask payroll"?

Anonymous User wrote:Hey guys, thanks in advance for your help (I'd REALLY appreciate it if you wise tax savants could help out a fellow TLSer)

My firm said on my W2 that my wages were $36,000, and that I only had around 1k taken out for tax, but when I look at my bank statements (I had everything direct deposit), it only adds up to 26,000. Also it wouldn't make sense for me to make 36,000, as they only pay us 3k a week BEFORE taxes, and I was only there 11 weeks...

rpupkin wrote:

Anonymous User wrote:Hey guys, thanks in advance for your help (I'd REALLY appreciate it if you wise tax savants could help out a fellow TLSer)

My firm said on my W2 that my wages were $36,000, and that I only had around 1k taken out for tax, but when I look at my bank statements (I had everything direct deposit), it only adds up to 26,000. Also it wouldn't make sense for me to make 36,000, as they only pay us 3k a week BEFORE taxes, and I was only there 11 weeks...

How is the bolded possible? Are you sure you're not misreading your W2 form?

Anonymous User wrote:

rpupkin wrote:

Anonymous User wrote:Hey guys, thanks in advance for your help (I'd REALLY appreciate it if you wise tax savants could help out a fellow TLSer)

My firm said on my W2 that my wages were $36,000, and that I only had around 1k taken out for tax, but when I look at my bank statements (I had everything direct deposit), it only adds up to 26,000. Also it wouldn't make sense for me to make 36,000, as they only pay us 3k a week BEFORE taxes, and I was only there 11 weeks...

How is the bolded possible? Are you sure you're not misreading your W2 form?

Thanks for the quick reply!

Yes, somehow it says I only had $1900 taken out, which doesn't make sense to me because I had that taken out every paycheck (but again, I don't know nearly as much about tax as I admittedly should)

Anonymous User wrote:I'd really appreciate any wisdom you guys could provide

rpupkin wrote:

Anonymous User wrote:

rpupkin wrote:

Anonymous User wrote:Hey guys, thanks in advance for your help (I'd REALLY appreciate it if you wise tax savants could help out a fellow TLSer)

My firm said on my W2 that my wages were $36,000, and that I only had around 1k taken out for tax, but when I look at my bank statements (I had everything direct deposit), it only adds up to 26,000. Also it wouldn't make sense for me to make 36,000, as they only pay us 3k a week BEFORE taxes, and I was only there 11 weeks...

How is the bolded possible? Are you sure you're not misreading your W2 form?

Thanks for the quick reply!

Yes, somehow it says I only had $1900 taken out, which doesn't make sense to me because I had that taken out every paycheck (but again, I don't know nearly as much about tax as I admittedly should)

The W2 form should show the different types of taxes that have been witheld: federal income, social security, state (assuming you're in a state with state income tax), and possibly local. Whatever your situation, there's more than one box for taxes. Is the $1,900 the total of all of the withheld taxes, or is it just a single tax line?

CPA-->JD wrote:

Anonymous User wrote:I'd really appreciate any wisdom you guys could provide

If you want to redact your personal info and pm me a pic, I would be happy to take a look.

Anonymous User wrote:

rpupkin wrote:

Anonymous User wrote:

rpupkin wrote:

Anonymous User wrote:Hey guys, thanks in advance for your help (I'd REALLY appreciate it if you wise tax savants could help out a fellow TLSer)

My firm said on my W2 that my wages were $36,000, and that I only had around 1k taken out for tax, but when I look at my bank statements (I had everything direct deposit), it only adds up to 26,000. Also it wouldn't make sense for me to make 36,000, as they only pay us 3k a week BEFORE taxes, and I was only there 11 weeks...

How is the bolded possible? Are you sure you're not misreading your W2 form?

Thanks for the quick reply!

Yes, somehow it says I only had $1900 taken out, which doesn't make sense to me because I had that taken out every paycheck (but again, I don't know nearly as much about tax as I admittedly should)

The W2 form should show the different types of taxes that have been witheld: federal income, social security, state (assuming you're in a state with state income tax), and possibly local. Whatever your situation, there's more than one box for taxes. Is the $1,900 the total of all of the withheld taxes, or is it just a single tax line?

You're right! Thanks! (and sorry about that) So my NYS tax is 1900, and my local tax is 1200 (isn't that still a little low?)

rpupkin wrote: Once you find your federal tax withholdings, I suspect that the mystery will be solved.

dabigchina wrote:

rpupkin wrote: Once you find your federal tax withholdings, I suspect that the mystery will be solved.