I'm just curious if a garnishment should be taken out before or after I get taxed on my paycheck? Any thoughts? thanks
2007-03-30 14:08:18 · 10 answers · asked by curious 2 in Business & Finance ➔ Taxes ➔ United States
My garnishment is not based on my pay. It comes out every 2 weeks and is always the same amount. I filed Chapter 13 bankruptcy. So that is what it's for. Thanks in advance for your input.
2007-03-30 14:19:52 · update #1
garnishments, depending on local should be taken at a maximum of 30% of you net income. this can be lowered if you have dependents or you go to court within 10 days of the official notice that your employer is required to provide you
your bank accounts can also be garnished
not able to be garnished are soc security, medicare, and a few other things
2007-03-30 14:19:31 · answer #1 · answered by fasttraxr 2 · 1⤊ 1⤋
They aren't tax deductible, so they will be taken out after you are taxed on your gross income. Ouch, baby, very ouch. Regardless of the reason for the garnishment, you should consider getting a 2nd job or selling some stuff to pay off what you owe. Garnishment is a demoralizing experience for most people & (depending on the employer) you may be looked down upon for it.
2007-03-30 14:16:45 · answer #2 · answered by Tom's Mom 4 · 0⤊ 0⤋
Garnishments do not affect your taxable income. You are taxed on your gross income and then the garnishment comes out. A garnishment is just a portion of your net pay that is diverted elsewhere instead of being paid to you in your paycheck.
2007-03-30 16:22:43 · answer #3 · answered by Bostonian In MO 7 · 1⤊ 0⤋
Garnishments that are based on a percentage of pay are taken out after all REQUIRED deductions are taken first. This includes most taxes, and may include other required items like union dues.
2007-03-30 14:14:30 · answer #4 · answered by Brian G 6 · 2⤊ 0⤋
Garnishments are taken out of what they like to call your "disposible" income. Like anybody has money to just throw away:))
2007-03-30 14:16:12 · answer #5 · answered by calired67 4 · 1⤊ 0⤋
It is taken out after taxes for normal withholding are withheld
2007-03-30 14:14:46 · answer #6 · answered by stuart 3 · 1⤊ 0⤋
They're taken out AFTER tax. You don't get to pay these sums with tax-free money.
2007-03-30 14:53:42 · answer #7 · answered by Judy 7 · 2⤊ 0⤋
The law states after.
Your unpaid debts are not the governments problem and they always get paid first.
2007-03-30 14:19:01 · answer #8 · answered by Gem 7 · 0⤊ 0⤋
After. You don't get a tax break for unpaid debts.
2007-03-30 15:36:13 · answer #9 · answered by Just Mee 2 · 1⤊ 0⤋
After. You have to earn the income in order for it to be garished.
2007-03-30 14:47:54 · answer #10 · answered by zudmelrose 4 · 0⤊ 0⤋