Easy math for retro check estimation!

Discussion in 'UPS Union Issues' started by Benben, Feb 6, 2019.

  1. Shift 2

    Shift 2 Member

    That’s hilarious my wife got a lump sum of money from her car accident and where getting a lot back in taxes so we’ll be free of $1100 in monthly payments. So I expect to be debt free be sides a mortgage with in 1 or 2 years
     
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  2. BuckyBadger

    BuckyBadger Member

    This is what I thought. No idea where this percentage calculation thing comes from. I'm expecting at least 1000...
     
  3. Gman33909

    Gman33909 Member

    What will the % of tax taken out on our retro checks be 25%?
     
  4. Ou812fu

    Ou812fu Polishing toilet bowls since 1966.

    Your simple calculation is flawed, considering it doesn't figure out the over time. Easiest way is to go back and figure how many weeks you worked, and vacation weeks. That total times 40 then times..75. Then figure your total overtime then multiply it. Simple math.
     
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  5. IRS dropped the bonus withholding to 22% after the new tax law went into effect.

    Obviously the actual taxes owed will depend on your effective tax rate so most people will get like half of that back.
     
  6. SameRightsForAll

    SameRightsForAll Active Member

    If it's a separate check then expect all your regular per-paycheck deductions to be taken out, plus taxes. It's quite the joke which is why I kept saying that anybody voting Yes just to get their "retro check" is doing it for the wrong reason.
     
  7. BurningBrown

    BurningBrown New Member

    I'm in 3rd year of progression so $3.75/hr straight time. $5.63 overtime. My retro pay is currently $4,382.80 pre-tax.
     
  8. BigBrown87

    BigBrown87 If it’s brown, it’s going down

    Going to his class right now called Financial Peace University, great class teaches you everything to insurance, retirement, debt snowball and more would recommend this to everybody.