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Brown Cafe UPS Forum
UPS Discussions
Ups removed the quick link to “view my paycheck “
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<blockquote data-quote="CoffeeStainedUniform" data-source="post: 4075727" data-attributes="member: 73423"><p>In answer to your unasked question:</p><p></p><p>The reason the 25% bonus tax rate makes sense is to more accurately tax the money now. Another way to do it would be to take your retro and tax it with your current wage like normal.</p><p></p><p>Let's say your pay is $1100/week (your in progression in this example) and your retro is $6500. If they 'tax normally' they would add 6500 to 1100 to make your weekly pay($7600). Then they would multiply by the # of weeks in a year (52×7600=$395,200) then they would tax this at about 45% and cut you a check for $4180, weekly pay+retro...way too much. </p><p></p><p>Either way if you're being taxed too much/little you'll fix it when you do yoir taxes. Thats why you get a refund or owe money come april 15th.</p></blockquote><p></p>
[QUOTE="CoffeeStainedUniform, post: 4075727, member: 73423"] In answer to your unasked question: The reason the 25% bonus tax rate makes sense is to more accurately tax the money now. Another way to do it would be to take your retro and tax it with your current wage like normal. Let's say your pay is $1100/week (your in progression in this example) and your retro is $6500. If they 'tax normally' they would add 6500 to 1100 to make your weekly pay($7600). Then they would multiply by the # of weeks in a year (52×7600=$395,200) then they would tax this at about 45% and cut you a check for $4180, weekly pay+retro...way too much. Either way if you're being taxed too much/little you'll fix it when you do yoir taxes. Thats why you get a refund or owe money come april 15th. [/QUOTE]
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Ups removed the quick link to “view my paycheck “
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