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Bull
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« on: November 10, 2008, 09:39:01 AM » |
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I pay taxes on my pay before my 401k is taken out. Some one told me that I can pay after the 401k deductions and that counts as my salary. Basiccally that I wouldn't have to pay taxes on the amount I put in my 401k. Is that correct?
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$1.50
Better Than You
Karma: +46/-13
Posts: 1181
Steelerz
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« Reply #1 on: November 10, 2008, 10:04:54 AM » |
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Your 401(k) should be a pre-tax deduction for Federal Income tax. There are some limits to that, but I really doubt that you're over them. It might be taxable for FICA and FUTA, but I don't remember off the top of my head. I'll take a look and let you know.
As for state and local taxes, it is non-taxable in the state of PA and the City of Pgh follows the state taxable gross definition.
So pretty much this should be pre-tax for you, just like your section 125 health benefits.
Does your employer do payroll in house, or is someone like ADP printing your checks?
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$1.50
Better Than You
Karma: +46/-13
Posts: 1181
Steelerz
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« Reply #2 on: November 10, 2008, 10:14:44 AM » |
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Checked it out in our system. I was wrong about PA, it is taxable for state and local income tax. It is also taxable for FICA and FUTA.
So the only place that you'll see it as a pre-tax deduction is in your Federal Income Tax.
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Bull
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« Reply #3 on: November 10, 2008, 10:59:20 AM » |
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Yeah ADP handles our payroll.
The paper I read says. You may elect to defer a percentage of your pay each pay period. Your taxable income is reduced by the amount you contribute through salary deferral. This lets you reduce your current federal and many state income taxes.
I guess I better talk to HR about this as, I think I'm currently getting taxed on this shit. Don't want to pay more taxes than I have to.
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« Last Edit: November 10, 2008, 11:02:46 AM by Bull »
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$1.50
Better Than You
Karma: +46/-13
Posts: 1181
Steelerz
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« Reply #4 on: November 10, 2008, 11:02:37 AM » |
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Then they're probably handling your contributions correctly. You can double check it at paycheckcity.com to see if there is a difference.
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Bull
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« Reply #5 on: November 10, 2008, 11:06:20 AM » |
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Yeah i guess I got to see if they are taking 11% of my gross pay or my net pay first and then go from there.
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pnickers
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« Reply #6 on: November 10, 2008, 12:07:24 PM » |
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I'm guessing that this might be 1.50's favorite thread ever.
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homesystem
Better Than You
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Big Ben - Godsend
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« Reply #7 on: November 11, 2008, 01:26:42 PM » |
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Yeah, just cause he got to make reference to paycheckcity.com.
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Don't touch 'a tv buttons...
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Tha_Professa
Poster Biatch
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Recognize, BITCHES!
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« Reply #8 on: November 11, 2008, 02:04:35 PM » |
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Paycheckcity is one rockin' town.
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I don't have opinions anymore. All I know is that no one is better than anyone else, and everyone is the best at everything.
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Tha_Professa
Poster Biatch
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Recognize, BITCHES!
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« Reply #9 on: November 13, 2008, 12:10:39 PM » |
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Hey $1.50... you got a soldering iron?
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I don't have opinions anymore. All I know is that no one is better than anyone else, and everyone is the best at everything.
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$1.50
Better Than You
Karma: +46/-13
Posts: 1181
Steelerz
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« Reply #10 on: November 13, 2008, 12:37:03 PM » |
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Yes.
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Tha_Professa
Poster Biatch
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Recognize, BITCHES!
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« Reply #11 on: November 13, 2008, 12:39:29 PM » |
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Aight.
I may need to use that shit.
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I don't have opinions anymore. All I know is that no one is better than anyone else, and everyone is the best at everything.
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$1.50
Better Than You
Karma: +46/-13
Posts: 1181
Steelerz
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« Reply #12 on: November 13, 2008, 12:42:20 PM » |
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Ok. I think that I have 2 of them, so I can probably give you one. You'll just need to get solder.
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Gregor
Administrator
Zombie
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zort.
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« Reply #13 on: November 14, 2008, 06:37:48 AM » |
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Wherever my "box of stuff" is, there may be an iron and some solder in there. It may still be in HS basement.
In a related note, I'm down with gathering up my various boxes of stuff, if yinz want them out of your houses (which I'm sure you do). Most of it will be trashed, but I'd like to look through them first.
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-Gregor
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newefezziwig
Skeletal Being
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Work it
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« Reply #14 on: November 14, 2008, 08:33:19 AM » |
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Any of those boxes contain straight up loot?
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Gregor
Administrator
Zombie
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zort.
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« Reply #15 on: November 14, 2008, 08:39:29 AM » |
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Any of those boxes contain straight up loot?
Did Ponce hijack your account? |
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-Gregor
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Tha_Professa
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Recognize, BITCHES!
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« Reply #16 on: November 14, 2008, 08:41:02 AM » |
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Most of the boxes in my attic are just general audio shit. (cables, broken microphones & junk)
If someone encounters a box containing one of those ADAT optical cables, that would be awesome. (Or if someone finds it sans box, just as well.)
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I don't have opinions anymore. All I know is that no one is better than anyone else, and everyone is the best at everything.
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newefezziwig
Skeletal Being
Karma: +43/-2
Posts: 812
Work it
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« Reply #17 on: November 14, 2008, 08:43:59 AM » |
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Any of those boxes contain straight up loot?
Did Ponce hijack your account? Ponce is a cyber forum terrorist.. watch out |
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Tank Decker
Skeletal Being
Karma: +32/-0
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sometimes the silence bludgeons you dumb
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« Reply #18 on: November 14, 2008, 09:23:36 AM » |
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Boo ya!
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"Empty that which is full. Fill that which is empty. If it itches, scratch it."
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Nye
Better Than You
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I literally just farted!
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« Reply #19 on: November 14, 2008, 10:03:24 AM » |
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I participate in nitpickery in all possible situations. Chicken wings... meat and shell.
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You Americans, all you do is talk, and talk, and say "let me tell you something" and "I just wanna say."
Well, you're dead now, so shut up.
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Nye
Better Than You
Karma: +57/-7
Posts: 1695
I literally just farted!
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« Reply #20 on: November 14, 2008, 10:03:44 AM » |
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I participate in nitpickery in all possible situations. Chicken wings... meat and shell.
Damn you ponce, hijacking my shit! |
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You Americans, all you do is talk, and talk, and say "let me tell you something" and "I just wanna say."
Well, you're dead now, so shut up.
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pnickers
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« Reply #21 on: November 14, 2008, 10:11:46 AM » |
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BOOM!!!
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$1.50
Better Than You
Karma: +46/-13
Posts: 1181
Steelerz
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« Reply #22 on: November 14, 2008, 10:26:27 AM » |
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Cake ain't bad neither.
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homesystem
Better Than You
Karma: +40/-8
Posts: 1309
Big Ben - Godsend
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« Reply #23 on: November 15, 2008, 05:58:11 PM » |
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I'm gonna use it..... as an intoxicant!
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Don't touch 'a tv buttons...
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Tank Decker
Skeletal Being
Karma: +32/-0
Posts: 779
sometimes the silence bludgeons you dumb
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« Reply #24 on: November 20, 2008, 09:38:13 AM » |
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Logged
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"Empty that which is full. Fill that which is empty. If it itches, scratch it."
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Tha_Professa
Poster Biatch
Karma: +90/-35
Posts: 3833
Recognize, BITCHES!
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« Reply #25 on: November 20, 2008, 09:41:13 AM » |
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Wow.
Welcome to the world in which we live.
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I don't have opinions anymore. All I know is that no one is better than anyone else, and everyone is the best at everything.
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newefezziwig
Skeletal Being
Karma: +43/-2
Posts: 812
Work it
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« Reply #26 on: November 20, 2008, 09:43:14 AM » |
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Sounds like Hip Hop Pussery to me |
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Tha_Professa
Poster Biatch
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Recognize, BITCHES!
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« Reply #27 on: November 20, 2008, 09:44:24 AM » |
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Most certainly.
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I don't have opinions anymore. All I know is that no one is better than anyone else, and everyone is the best at everything.
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Nye
Better Than You
Karma: +57/-7
Posts: 1695
I literally just farted!
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« Reply #28 on: November 20, 2008, 10:18:56 AM » |
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Like Gotz Money?
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You Americans, all you do is talk, and talk, and say "let me tell you something" and "I just wanna say."
Well, you're dead now, so shut up.
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Tank Decker
Skeletal Being
Karma: +32/-0
Posts: 779
sometimes the silence bludgeons you dumb
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« Reply #29 on: November 20, 2008, 01:12:14 PM » |
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"Empty that which is full. Fill that which is empty. If it itches, scratch it."
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