Do more taxes get taken out of my pay check cause I get paid every week or would it be the same if I were to get paid every 2 weeks or once a month?
2007-09-15 10:43:00 · 6 answers · asked by Louise 4 in Business & Finance ➔ Taxes ➔ Other - Taxes
No, it should be exacly the same either way, because the payroll dept should be basing the taxes on your income for the year, so if you get paid 52 times a year, 26 times a year, or 12 times a year, you still get paid the same amount for the year, so the taxes being taken out should be exactly the same amount.
2007-09-16 06:57:39 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Same amount of taxes gets taken out only adjusted for frequency of pay. If taxes are $100 weekly, it'll be $200 if paid every 2 weeks; $300 if paid every 3 weeks, etc.
2007-09-15 10:49:21 · answer #2 · answered by john p 3 · 1⤊ 0⤋
It's the same. Taxes are calculated based on the $ amount you make, not on how often you get paid.
2007-09-15 10:49:27 · answer #3 · answered by Jane 2 · 0⤊ 0⤋
Taxes are a percentage of pay. They should not increase unless you are making more money.
2007-09-15 10:49:46 · answer #4 · answered by bushmaster19772002 2 · 0⤊ 0⤋
More or less, the taxation would be equal, within a few cents. See IRS.Gov for more information about withholding.
2007-09-15 10:48:16 · answer #5 · answered by Barbara E 4 · 2⤊ 0⤋
It would be the same whatever the payday frequency is -- within pennies either way.
2007-09-15 11:11:27 · answer #6 · answered by Bostonian In MO 7 · 0⤊ 0⤋