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Started By
Message
re: Update pg3 Husband got a raise, but paychecks are now $50 less
Posted on 5/3/15 at 7:10 pm to CorkSoaker
Posted on 5/3/15 at 7:10 pm to CorkSoaker
Your husband has a secret family. I hate you had to find out this way.
2
Posted on 5/3/15 at 7:45 pm to Walking the Earth
quote:
Yeah but there is no way that by itself ends up making your take home less.
See a guy get 1 hr of OT and actually take home less then when he just made 40... that 1 hr put him in a higher bracket.
Posted on 5/3/15 at 7:56 pm to tigeraddict
That's a little different
He would get back some of that money when he does his taxes
That's an issue with payroll software and not the tax code
He would get back some of that money when he does his taxes
That's an issue with payroll software and not the tax code
Posted on 5/3/15 at 8:20 pm to Croacka
quote:
I got a 1% raise on Jan 1 (don't hate, just started job in December), and my paychecks went down too.
More than likely a tax break or credit expired in December 2014 or your healthcare premium increased
This post was edited on 5/3/15 at 8:21 pm
Posted on 5/3/15 at 8:34 pm to I Love Bama
I figured that was coming......I only found out because he was bitchin about it. I would have never noticed.
Posted on 5/3/15 at 8:37 pm to CorkSoaker
Must have been a pretty small raise
Posted on 5/3/15 at 8:44 pm to yellowfin
It is. This is not his normal yearly raise. That was fine.
This is for something specific he has recently taken on to help the team and his boss insisted he be compensated accordingly.
This is for something specific he has recently taken on to help the team and his boss insisted he be compensated accordingly.
Posted on 5/3/15 at 9:26 pm to tigeraddict
quote:
See a guy get 1 hr of OT and actually take home less then when he just made 40... that 1 hr put him in a higher bracket.
Good Lord.
Posted on 5/4/15 at 7:20 am to Asgard Device
Just so no one thinks I was talking about tax brackets, I wasn't. AMT was popping into my head. I don't think that is what happened here, but I was just making a point.
Posted on 5/4/15 at 9:32 am to foshizzle
quote:
Um, no. You only pay the higher tax on the amount you make in the higher bracket. Everything else stays the same
It is absolutely incredible how many people cannot comprehend this.
If the tax bracket are set up as 50k =15%, 80k= 18%, so on and so forth, you are charged 15% of your first 50k, then you are only charged 18% on what you make over 50k.
So if you make $51k, you are charged 15% on $50k ($7,500) and 18% on the additional 1k ($180). You are not charged 18% on the whole 51k ($9,180). You will NOT ever make less money when you get a raise due to taxes. I've heard of people turning down raises, because they didn't think it was enough money to cover taxes. Maybe they didn't deserve the promotion since they couldn't figure out that simple math.
Your insurance may have gone up, I know my insurance skyrocketed. I know my company also has a few benefits that cost a little more when you start making more money. Never had a situation where I took home less though. Less than what I thought, but never less than what I made before.
Posted on 5/4/15 at 10:46 am to CorkSoaker
quote:
He doesn't feel like looking it up at the moment.
Posted on 5/4/15 at 12:07 pm to KG6
So if it is insurance premium increase, it would just be coinsidense it happened at the same time as raise?
Posted on 5/4/15 at 12:15 pm to CorkSoaker
My rates increased in January if I'm not mistaken. Laws came into effect in 2015.
I recently got a raise after I moved my family. I had to put my wife and son on my insurance, increased amount of cash going into 401k and ESPP, etc. I still made more money than before. But take home was only about $200 more a check, when the raise was about $18k per year. I was expecting the take home to be a bit more
I recently got a raise after I moved my family. I had to put my wife and son on my insurance, increased amount of cash going into 401k and ESPP, etc. I still made more money than before. But take home was only about $200 more a check, when the raise was about $18k per year. I was expecting the take home to be a bit more
Posted on 5/4/15 at 1:52 pm to KG6
KG6 with a great breakdown of how a MARGINAL tax rate works. Crazy how many people don't understand the marginal part of that.
Posted on 5/4/15 at 4:04 pm to CorkSoaker
quote:
Calling HR Monday, but wanted to know what are some possible reasons for this so I know what questions to ask.
wait.... its your husbands raise, at your husbands job, and your husbands withholdings from your husbands pay check..... and you are here asking us to guess what it is so you can call? whats his problem?
Posted on 5/4/15 at 6:03 pm to NoSaint
The husband probably has a secret bank account.
Posted on 5/4/15 at 6:11 pm to NoSaint
quote:
wait.... its your husbands raise, at your husbands job, and your husbands withholdings from your husbands pay check..... and you are here asking us to guess what it is so you can call? whats his problem?
I thought it was weird from the beginning.
Posted on 5/4/15 at 8:54 pm to Asgard Device
quote:
The husband probably has a secret bank account.
I realize this isn't the OT, but he has a secret bank account and a secret life or she has his balls on the mantle.
Posted on 5/4/15 at 10:10 pm to Mr.Perfect
quote:
You are taxed the rate on the money in each bracket from 1 to infinity. So he would only be taxed the higher bracket on the 500 over.
Is this correct? I never looked up how this worked and I see someone gave him 2 downvotes.
ETA: I see it has been explained multiple times.
This post was edited on 5/4/15 at 10:16 pm
Posted on 5/4/15 at 10:41 pm to tigeraddict
Please don't give advice if you have no idea what you're talking about.
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