I get paid hourly, but every time I look at my paycheck it says salary, even when I work OT it is all marked as salary, my taxes are pretty high. what do you think?
2006-08-17 02:56:28 · 9 answers · asked by hector 2 in Business & Finance ➔ Careers & Employment
what I mean is, if Ii get paid 500 a week (regular hours) and I make 150 in OT, is that just 650 I made or is there a diff in taxes as far as OT goes
2006-08-17 03:07:06 · update #1
No, the method of payment does not change how much tax you get taken out of your check. The amount of tax taken out is based on how much you earned. If you are salary and make $1200 every two weeks, it will get taxed the same rate as if you are paid hourly and make $1200 every two weeks.
2006-08-17 03:01:14 · answer #1 · answered by Anonymous · 0⤊ 0⤋
NO, you are taxed based upon the dollar amount you earn and the deductions you claim.
The terminology used on your pay stub may or may not reveal the method used in calculating your pay. If there is a column in the stub that says hours and it is left blank and salary is printed across it , you should take that up with the bookkeeping dept.
becasue as a salaried empoyee you have different rights than an hourly employee . Under Federal rules you are entitled to OT pay even if salaried if you are working in a position that is held usually by an hourly employee. For clarification on this you would have to contact the US Dept of Labor for your specific case.
2006-08-17 03:09:44 · answer #2 · answered by Max 2 · 0⤊ 0⤋
Regardless how the gross pay is calculated- hourly or salary, the taxes are the same for the same amount. If it says salary on your paycheck maybe the software that they are using is equipped only to display that but it doesn't mean that you are paying more taxes.
2006-08-17 03:06:43 · answer #3 · answered by fasb123r 4 · 0⤊ 0⤋
The taxes are calulated on the frequecny of payroll, ie weekly, biweekly, monthly, etc...whether is says salary or hourly or what, makes no difference...I would say you are taxed properly....
2006-08-17 03:01:43 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Your'e taxed on your gross (total) pay - not on your classification.
But, your employer may be violating FLASA guidelines. You need to find out if you are in one of the exempt categories that can be legally paid overtime. If you are, then it's a not issue.
2006-08-17 07:18:38 · answer #5 · answered by Tim B 4 · 0⤊ 0⤋
tax only according to your gross wage on your paycheck, it does not matter either you pay for hourly or salary
2006-08-17 03:03:08 · answer #6 · answered by xzhou11377 3 · 0⤊ 0⤋
you can contact a friend of mine by going to her website at
www.debbicarroll.com . she can help you or give you some advice . tell her mark c referred you
2006-08-17 03:16:22 · answer #7 · answered by Mark 6 · 0⤊ 0⤋
talk to your human resources dept.
2006-08-17 03:02:02 · answer #8 · answered by Soldier 4 · 0⤊ 0⤋
NO
2006-08-17 03:33:26 · answer #9 · answered by somebody 3 · 0⤊ 0⤋