Submitted by Fun-Boot-7187 t3_1000xzn in personalfinance
Fun-Boot-7187 OP t1_j2esmri wrote
Reply to comment by [deleted] in Am I doing something wrong? by Fun-Boot-7187
Just added all the figures. Do you still reckon something Is missing?
DeluxeXL t1_j2esqyw wrote
List every tax and deduction separately!
Fun-Boot-7187 OP t1_j2eu7od wrote
Per pay bimonthly paycheck - Gross pay - $3076.93
Pre tax deductions - 401k- $307.7 Healthcare FSA-$11.04 Medical - $52
Employee taxes - Federal - $426.97 State -$131.11 (GA) Take home - $2148.11
DCcooking1 t1_j2ey417 wrote
Does your friend have to pay for health insurance at their job/pay less? Some jobs pay 100%/90%
[deleted] t1_j2eukur wrote
[deleted]
DeluxeXL t1_j2eurqr wrote
> Per pay bimonthly paycheck - Gross pay - $3076.93
> Pre tax deductions - 401k- $307.7 Healthcare FSA-$11.04 Medical - $52
> Employee taxes - Federal - $426.97 State -$131.11 (GA) Take home - $2148.11
Are you exempt from Social Security tax and Medicare tax? If not, where are they?
Fun-Boot-7187 OP t1_j2euvhw wrote
Yeah I’m not liable to pay social and Medicare because of my visa status
DeluxeXL t1_j2evi1p wrote
Can you confirm your pay frequency is actually semimonthly (24 times in a calendar year) and not biweekly (26 times in a calendar year)? Because if you are paid only 24 times a year, you only actually make $73.8k and not $80k
Fun-Boot-7187 OP t1_j2evx0k wrote
I’m paid twice a month, It’s been only 4 months to my hire here so I’m not sure if it’s 24 vs 26 times.
DeluxeXL t1_j2ex328 wrote
You're paid biweekly. My calculations can confirm this based on the withholding calculations.
| Item | Biweekly^1 | Semimonthly^1 | On paystub |
|---|---|---|---|
| Gross Pay per check | $3,076.93 | $3,076.93 | $3,076.93 |
| Gross Pay per year | $80,000 | $73,846.32 | |
| Federal Withholding | $426.78 | $412.74 | $426.97 |
| Social Security | $0.00 | $0.00 | $0.00 |
| Medicare | $0.00 | $0.00 | $0.00 |
| State Withholding | $131.06 | $129.01 | $131.11 |
| FSA | $11.04 | $11.04 | $11.04 |
| Traditional 401k | $307.70 | $307.70 | $307.70 |
| Medical insurance premium | $52.00 | $52.00 | $52.00 |
^1 Assuming
- Federal: Disable "standard deduction"
- Georgia personal allowance = 1
Since you are "nonresident alien", you do not have the $12,950 standard deduction (See Form 1040NR line 12). Instead, you must itemize. Therefore, payroll computer assumes your deduction is $0 instead of $12,950.
Fun-Boot-7187 OP t1_j2fa2pc wrote
Thanks so much. I guess it checks out that I’m paid correctly.
wowsocool4u t1_j2ew6iy wrote
if you are only paid twice per month then you aren't getting paid 80k. I would double check with your boss on the pay frequency. Edit: what days are you paid on?
Fun-Boot-7187 OP t1_j2ewe9y wrote
I’m paid on Friday, twice In a month
Werewolfdad t1_j2exjxq wrote
That’s bi weekly.
If you got paid twice a month, you’d get paid on the 15th and 30th, which Could be any day of the week.
If you get paid every other Friday, that’s biweekly
Ten months out of the year you’re paid twice a month. Two months, you’re paid thrice a month.
DeluxeXL t1_j2evwaa wrote
Are you considered "nonresident alien" for the purpose of filing US federal tax return?
Fun-Boot-7187 OP t1_j2evy1u wrote
Yes, I am!
[deleted] t1_j2estkj wrote
[deleted]
93195 t1_j2etebw wrote
Biweekly, not twice a month. Multiply by 26. $3077 x 26 = $80K.
Fun-Boot-7187 OP t1_j2etvxo wrote
Meant bi-monthly, I’m sorry, my bad.
93195 t1_j2eulfh wrote
No, you meant biweekly, at least if you want those numbers to add up. While most months will only have two paychecks, two months will have three.
Biweekly means you get paid once every two weeks, which is 26 times a year. 52 weeks in a year divided by once every two weeks is 26 times. Your gross pay of $3077 times 26 is $80K nearly exactly.
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