Taxes being taken out of paychecks this year.. seems insanely high?

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rydawg5

Senior Member

2,639 posts
Dec 14, 2013 5:45 PM
The amount of taxes I have paid this year seems extra high per percentage.. Much more e than I've ever paid before. I have the deductions correct but the Federal Taxes are crazy high.

Does this seem to be the case with everyone else?
Dec 14, 2013 5:45pm
TedSheckler's avatar

TedSheckler

Emporium Entrepreneur

3,974 posts
Dec 14, 2013 5:54 PM
The Bush tax cuts expired on 1/1/13.
Dec 14, 2013 5:54pm
LJ's avatar

LJ

Senior Member

16,351 posts
Dec 14, 2013 7:28 PM
rydawg5;1553361 wrote:The amount of taxes I have paid this year seems extra high per percentage.. Much more e than I've ever paid before. I have the deductions correct but the Federal Taxes are crazy high.

Does this seem to be the case with everyone else?
Unless you make a good bit of money (highest bracket) your employer is probably withholding at the higher rate that was I'm effect for one day. Do they process their own payroll or use a company like ADP?
Dec 14, 2013 7:28pm
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rydawg5

Senior Member

2,639 posts
Dec 14, 2013 7:54 PM
LJ;1553398 wrote:Unless you make a good bit of money (highest bracket) your employer is probably withholding at the higher rate that was I'm effect for one day. Do they process their own payroll or use a company like ADP?
They use a company for taxes.

I just curious if anyone else was seeing it on their checks...
Dec 14, 2013 7:54pm
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gut

Senior Member

15,058 posts
Dec 14, 2013 7:57 PM
Probably the only thing that changed for you was expiration of the "payroll tax holiday". This would be 1% more for your FICA. Possible you also saw an increase in state/local taxes.

If you got a really nice bonus this year, sometimes that is withheld at a much higher rate.
Dec 14, 2013 7:57pm
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QuakerOats

Senior Member

8,740 posts
Dec 15, 2013 10:36 AM
TedSheckler;1553364 wrote:The Bush tax cuts expired on 1/1/13.

You mean, the obama tax increases went into effect 1/1/13. He could have kept rates lower, he didn't = he owns it.
Dec 15, 2013 10:36am
Devils Advocate's avatar

Devils Advocate

Brudda o da bomber

4,539 posts
Dec 16, 2013 7:32 AM
QuakerOats;1553569 wrote:You mean, the obama tax increases went into effect 1/1/13. He could have kept rates lower, he didn't = he owns it.
WOW. I guess you really are that ignorant and stupid. KING OBAMA HAS FUCKED US YET AGAIN!!!

Dec 16, 2013 7:32am
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MontyBrunswick

Dec 16, 2013 7:50 AM
QuakerOats;1553569 wrote:You mean, the obama tax increases went into effect 1/1/13. He could have kept rates lower, he didn't = he owns it.


That's not how it works
Dec 16, 2013 7:50am
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MontyBrunswick

Dec 16, 2013 8:03 AM
Also, I haven't noticed my taxes being too high. Maybe you inadvertently set your withholding too high and you'll get a fat refund.

ccrunner evidently does this on purpose because he's a moran.
Dec 16, 2013 8:03am
SportsAndLady's avatar

SportsAndLady

Senior Member

35,632 posts
Dec 16, 2013 8:35 AM
[video=youtube;so4vfI_GQaU][/video]
Dec 16, 2013 8:35am
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Manhattan Buckeye

Senior Member

7,566 posts
Dec 16, 2013 9:18 AM
As gut mentioned above, your normal withholding usually won't apply to large bonus payments since many pay services aren't sophisticated enough to make a difference. So if you make $50,000/year and get a $5,000 year end bonus, it will be treated by your pay service that your annual salary is much higher and thus will withhold more. Of course you'll get refunded for it at tax time but it isn't easy to get it properly withheld at the time of payment.
Dec 16, 2013 9:18am
ernest_t_bass's avatar

ernest_t_bass

12th Son of the Lama

24,984 posts
Dec 16, 2013 10:30 AM
dlazz;1553998 wrote:Also, I haven't noticed my taxes being too high. Maybe you inadvertently set your withholding too high and you'll get a fat refund.

ccrunner evidently does this on purpose because he's a moran.
I do this, and I don't mind. I'd rather have that "fat refund," so I can plan other things with it.
Dec 16, 2013 10:30am
Devils Advocate's avatar

Devils Advocate

Brudda o da bomber

4,539 posts
Dec 16, 2013 10:31 AM
dlazz;1553998 wrote:
ccrunner evidently does this on purpose because he's a moran.
Dec 16, 2013 10:31am
mucalum49's avatar

mucalum49

Senior Member

1,639 posts
Dec 16, 2013 10:39 AM
LJ;1553398 wrote:Unless you make a good bit of money (highest bracket) your employer is probably withholding at the higher rate that was I'm effect for one day. Do they process their own payroll or use a company like ADP?
I just started a new position and they use ADP. Does that take more out of your pay? At my last place of employment my take home was about 68% of my pay with contribution to health insurance and 401K. Not moving up a tax bracket my first check from ADP without contribution and health care my take home was 68%. I was expecting it to be about 70-71% till the start of the year when those other deductions began.
Dec 16, 2013 10:39am
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MontyBrunswick

Dec 16, 2013 10:46 AM
ernest_t_bass;1554039 wrote:I do this, and I don't mind. I'd rather have that "fat refund," so I can plan other things with it.
Or you could take that cash and let it draw interest.

But letting the government unnecessarily keep some of your money makes way more sense.
Dec 16, 2013 10:46am
ernest_t_bass's avatar

ernest_t_bass

12th Son of the Lama

24,984 posts
Dec 16, 2013 10:49 AM
dlazz;1554049 wrote:Or you could take that cash and let it draw interest.

But letting the government unnecessarily keep some of your money makes way more sense.
It's just what I prefer to do.

Dec 16, 2013 10:49am