ah, thanks AJ.So, it looks like these withholdings are loosely pegged to the tax rate schedule?For example, from the semimonthly pay withholding chart:Over 3,211 but not over 6,783 withhold 630.95 plus 28% over 3,211From the tax schedule:Over 77,100 but not over 160,850 tax amount: 15,698.75 plus 28% over 77,10077,100/24 = 3,212.50160,850/24 = 6,702.0815,698.75/24 = 654.11So what accounts for the small discrepancies?Also - are there any cases where your employer would calculate withholdings against anything other than your gross pay for that period (minus declared allowances) for example - all retirement plans and benefits are always deducted after withholdings, correct?
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra