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

• rydawg5

  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?
• TedSheckler

  

  The Bush tax cuts expired on 1/1/13.
• LJ

  

  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?
• rydawg5

  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...
• gut

  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.
• QuakerOats

  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.
• Devils Advocate

  

  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!!!
  
  
• dlazz

  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
• dlazz

  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.
• SportsAndLady

  

  [video=youtube;so4vfI_GQaU][/video]
• Manhattan Buckeye

  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.
• ernest_t_bass

  

  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.
• Devils Advocate

  

  dlazz;1553998 wrote:
  ccrunner evidently does this on purpose because he's a moran.

  
• mucalum49

  

  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.
• dlazz

  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.
• ernest_t_bass

  

  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.