Retro check tax rate

[laffter]

Last week, my part time sup, during our PCM, mentioned that he heard our back-pay would be taxed at 40%. In another thread, here, I read that it would be taxed at the normal rate.

Does anyone have any factual information about this?

 

[upschuck]

IBT said in the letter anouncing agreement that it would be taxed at regular rates. UPSers says same thing.

 

[Wally]

This stuff drives me crazy. Look at this chart. Most of us are taxed between 15 to 28 percent. It seems more because the numbers go up on big checks.

 

[Dragon]

Taxed at your regular rate, I went thru a presentation today.
401k
If you have any garnishments that are percentage of your weekly check that will also come out.

 

[IVE GOTTA PACKAGE 4U]

Taxed at your regular rate, I went thru a presentation today.
401k
If you have any garnishments that are percentage of your weekly check that will also come out.

Too bad we cant put It all in our 401k. Just like option week or personal days

 

[Anonymous 11]

Taxed at your regular rate, I went thru a presentation today.
401k
If you have any garnishments that are percentage of your weekly check that will also come out.

That's awesome

 

[Anonymous 11]

Too bad we cant put It all in our 401k. Just like option week or personal days

You can change it for a while to off set it.

 

[IVE GOTTA PACKAGE 4U]

[quote Mr. Bojangles, post: 1319267, member: 52022"]You can change it for a while to off set it.[/quote]
I understand that. Just do not understand,why that option wasnt given.

 

[Anonymous 11]

[quote Mr. Bojangles, post: 1319267, member: 52022"]You can change it for a while to off set it.

I understand that. Just do not understand,why that option wasnt given.[/quote]
Me either.

 

[IVE GOTTA PACKAGE 4U]

I understand that. Just do not understand,why that option wasnt given.

Me either.[/quote]
If we had that option, alot of people who dont add to their 401k, might put this retro money In. they made it this far without the money...why not put it in?

 

[Anonymous 11]

Me either.

If we had that option, alot of people who dont add to their 401k, might put this retro money In. they made it this far without the money...why not put it in?[/quote] I agree. People need help saving their money. That's for sure.

 

[Wally]

Call HR. Maybe payroll can do that?

 

[bottomups]

Me either.

If we had that option, alot of people who dont add to their 401k, might put this retro money In. they made it this far without the money...why not put it in?[/quote]
I'm going to go ask my wife if I can put it in.

 

[Kae3106]

Last week, my part time sup, during our PCM, mentioned that he heard our back-pay would be taxed at 40%. In another thread, here, I read that it would be taxed at the normal rate.

Does anyone have any factual information about this?

This stuff drives me crazy. Look at this chart. Most of us are taxed between 15 to 28 percent. It seems more because the numbers go up on big checks.

Here's a link to an online paycheck calculator. You can enter the wage amount and then tweak the taxes and deductions to see the effect on the net pay. http://www.adp.com/tools-and-resour...l-calculators/hourly-paycheck-calculator.aspx

 

[brownmonster]

Putting the retro in my 401k would be like a rain drop in the ocean. Lol.

Sent using BrownCafe App

 

[IVE GOTTA PACKAGE 4U]

If we had that option, alot of people who dont add to their 401k, might put this retro money In. they made it this far without the money...why not put it in?

I'm going to go ask my wife if I can put it in.[/quote]
Just going to add my retro check to my roth IRA and I bumped up my 401k another percent.

 

[Quigley]

I'm going to spend mine on beer and hookers.

 

[brown_trousers]

I'm going to go ask my wife if I can put it in.

Its never that easy

 

[IVE GOTTA PACKAGE 4U]

I'm going to spend mine on beer and hookers.

Cheap hookers and good beer! I assume?

 

[Wally]

I'm going to spend mine on beer and hookers.

Not necessarily in that order either!