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paycheck and taxes question

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CaidensMommy
My 3 Miracles!

Member since 5/05

5777 total posts

Name:
Melissa

paycheck and taxes question

my DH received his first check, but since he started in the middle of a pay period he only got paid for one week. I know what his take home is for that one week. How much of a difference in taxes will it normally be do you think it will be when you take home 2 weeks worth? Can I multiply the one week's paycheck by 2 and this is what he'll take home every 2 weeks? I'm so confused? Chat Icon Do they take out more in taxes because it's for 2 weeks? Everyone is saying to double the taxes but to me that doesn't make sense. I was just looking at it in the way that since they took out the taxes already that his take home would be the same. I know very STUPID question and I'm sorry. I just hate the tax details with all of this. I used the take home calculator you use and it's saying that he should be bringing in a bit less than what he brought home even for 1 week. I was just wondering because we would love the extra money every month we weren't expecting. Any thoughts? Thanks! Chat Icon

Message edited 3/7/2007 4:38:41 PM.

Posted 3/7/07 4:38 PM
 
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Beth
The Key to your new home....

Member since 2/06

24849 total posts

Name:
Beth

Re: paycheck and taxes question

it's normally alittle less when it the 2 weeks together- they take more taxes

congrats on your husband getting a job- it must be a huge weight off your shoulders! Chat Icon

Posted 3/7/07 4:45 PM
 

Blu-ize
Plan B is Now Plan A

Member since 7/05

32475 total posts

Name:
Susan

Re: paycheck and taxes question

Not sure about the taxes but also take into consideration that he probably doesn't have benefits or 401(k) taken out yet...that will impact future pay checks.

Posted 3/7/07 4:47 PM
 

Christine
2nd verse same as the 1st

Member since 5/05

15287 total posts

Name:

Re: paycheck and taxes question

It really depends on how the payroll dept handled this paycheck.

If his current paycheck was reported as 1/26th of his annual pay then he will be paying a bit more then double of what was withheld this week since he won't be in the correct tax bracket.

For example, if his annual salary is $52,000 his bi-weekly pay would be $2,000 per period. If he was paid $1,000 at the bi-weekly tax rate, he will be in the $26,000 tax bracket because it will appear that he's paid $500 per week, not $1,000.

If his current pay was reported as one week's pay, then doubling the amount would get you pretty close barring any deductions for benefits.

Posted 3/7/07 4:54 PM
 
 

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