Retro checks
- Thread starter UPSDriver15
- Start date
gman042
Been around the block a few times
It is my understanding that only "extra" pay over and above what you would have worked in a year can be taxed at 40%. That is...pay that could be viewed as a bonus(option days, and vacation weeks not used). This retro check, as it is being called, is pay that we should have earned over the period and should be viewed as a regular pay check. Taxed at regular levels. By all means it is in no way a "bonus" check.
oldngray
nowhere special
The tax is based on the last dollar of income and since the retro check is in addition to regular paycheck it pushes you into a high tax bracket - what you would pay if you made that much every week. Since its more money than other weeks you will get back a lot when you file taxes.
Brown stains
Well-Known Member
Now you need poles to fill all that
Looks nice were do you fish
Xexys
Retired and Happy
I'm kind of liking this deal of waiting. I'm retired so I don't have to pay the extra monies per month. Plus, I still have my 90% paid doctor's visits and my free prescriptions for a three month mail order. I've been getting all my doctor's visits out of the way and stocking up on pills. Hell, I might even have an accident and visit the hospital just for chits and grins.
Brown stains
Well-Known Member
I do a lot of boat/ land fishing for
Striped bass up her in ct schoolies
Are in the rivers now going sat
PT Stewie
"Big Fella"
Caught a short last week no pinching the tail could have made it to 28" Should heat up in May 60 deg+ water is the key.Was looking at a picture from last fall guy in Cape May caught a 53 lb. striper out of the surf for that you need the big cutting board LOL
http://bigcuttingboards.com/
brownmonster
Man of Great Wisdom
I can ride my bicycle to Lake Michigan and haven't dropped a pole in that water in 30 years.
bottomups
Bad Moon Risen'
Dropped one in Lake Erie a few years back. About $250 sitting on the bottom now!
brownmonster
Man of Great Wisdom
When I was a kid I caught a pole off the pier. I reeled it in and still had a fish on it.
PT Stewie
"Big Fella"
Now you can ride and fish
http://www.bikefisherman.com/
We can talk fishing while waiting for our retro checks !
Brown stains
Well-Known Member
UpstateNYUPSer(Ret)
Well-Known Member
Excellent question. I hope so as this is what I would like to do as well but I have a feeling it will be treated like any other paycheck.
rod
Retired 22 years
Be careful of lead poisoning------seriously. It looks like your gloves have holes in the finger tips.
AlwaysChafed
Well-Known Member
Half of our retro checks will be taxed 50% anyway we should be earning interest. Place is so messed up.
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