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Thread: what happened to my money

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    Veteran Member happygiggles's Avatar
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    Default what happened to my money

    okay, so i work at red lobster as a waitress. i think our tips are taxed.....i'm not sure. however the past two weeks my paycheck has been fifty dollars. this week it's 11 dollars. so i looked at the stub from last week and the one for this week. it says last week i earned 306 in taxable income. this week i earned about 308. from 50 to 11 is kinda a big jump from not such a big difference in income. could they have somehow messed with my w-4 and taken off my dependent? does anyone know what's going on?

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    God/dess VegasPrincess's Avatar
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    Default Re: what happened to my money

    Mmmm Cheddar bay biscuits

    I truly don't know, even if they taxed your tips I mean, you had the same amount of taxable income so.....yeah ask somebody for sure.
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    Veteran Member happygiggles's Avatar
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    Default Re: what happened to my money

    damn biscuits...........

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    Veteran Member justtobenaked's Avatar
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    Default Re: what happened to my money

    Wow did you lessen your dependants? I claim 1 and more than half of my check goes to taxes due to my tips. I would definately ask human resourses or whomever is handling the books. I was claiming 3 dependants last year and I was not paying enough...so I changed that. Oh well, big reward at the end..

  5. #5
    goldengrl69
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    Default Re: what happened to my money

    I didnt know tips were taxed. I thought they were taxed during tax time.

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    Veteran Member happygiggles's Avatar
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    Default Re: what happened to my money

    depends on the place i guess. but on my stubs it reads "taxable income" and that includes the tips i report. i have no problem with them being taxed but 3 dollars in income shouldn't take away 40 dollars

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    Banned Melonie's Avatar
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    Default Re: what happened to my money

    It could be that your recent income levels have increased your annual total income to the point of bumping you up a tax bracket. For example, every dollar you earn up to $32,550 is taxed at a 15% rate (federal income tax). Every dollar that you earn over $32,550 (and up to $78,850 where it jumps even higher) is taxed at a 25% rate. Since your 'employer' can only withhold estimated tax money from current paychecks, it's possible that 25% of your earnings will be withheld from now until the end of december whereas only 15% of your earnings had been withheld prior to your last pay period.

    For people whose incomes are more 'predictable' for their employer, estimated tax withholding would probably occur all year long at, say, an 18% rate. Ultimately, in this example your average tax withholding could also come out to be 18% over the entire year, but that will consist of 42 paychecks at 15% plus 10 paychecks at 25% instead of 52 paychecks at 18%.

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    Veteran Member justtobenaked's Avatar
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    Default Re: what happened to my money

    As a waitress...I have to tip out, and they base the amount on the sales...not my ACTUAL take (unless noted credit slips are taken in) At the end of the day I pay the taxes on ALL the tips I report including the host/bartender tips that I give out...sucks...especially if they are claiming (bartender/hosts) those SAME taxes at the end of the year. Double taxation.

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    Curious Guest
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    Default Re: what happened to my money

    Girl, sounds like you just need to leave red lobsters alone

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    Veteran Member happygiggles's Avatar
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    Default Re: what happened to my money

    Quote Originally Posted by Melonie View Post
    It could be that your recent income levels have increased your annual total income to the point of bumping you up a tax bracket. For example, every dollar you earn up to $32,550 is taxed at a 15% rate (federal income tax). Every dollar that you earn over $32,550 (and up to $78,850 where it jumps even higher) is taxed at a 25% rate. Since your 'employer' can only withhold estimated tax money from current paychecks, it's possible that 25% of your earnings will be withheld from now until the end of december whereas only 15% of your earnings had been withheld prior to your last pay period.

    For people whose incomes are more 'predictable' for their employer, estimated tax withholding would probably occur all year long at, say, an 18% rate. Ultimately, in this example your average tax withholding could also come out to be 18% over the entire year, but that will consist of 42 paychecks at 15% plus 10 paychecks at 25% instead of 52 paychecks at 18%.

    that couldn't possibly be it cuz i've just been there a month.

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    Veteran Member MsLayne's Avatar
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    Default Re: what happened to my money

    It could possiby be that you have more crdit card transactions than cash. I was a waitress and all my checks use to come up void....but that just means my taxes were being paid. So when I went to file my income taxes, I didn't have to owe the IRS nada. So it could possibly mean you had more credit card tips than cash tips. They can't tax you on the cash, cause u basically can lie and said you made 0 but ur CC tips you can't lie about.

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    Senior Member Butrcup98's Avatar
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    Default Re: what happened to my money

    I wouldn't worry to much about your current check situation. Unless you invest your extra money, it's better to pay more now (and get it back come tax time), than to owe the IRS at the end of the year.

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    Featured Member Katherine's Avatar
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    Default Re: what happened to my money

    I worked at olive garden which is also owned by Darden (as is red lobster). It could simply be that the check amount this week was less than your check amount last week and about the ame taxes were taken out.

    The differences in the original check amount (before taxes) could have been due to 1. Not gettig as many tips charged on cc, or 2. Not working as many hours.
    It's most likely number 1.

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    Default Re: what happened to my money

    Have you started getting insurance benefits or something? That might be why the change in your take home pay, if insurance premiums are now being deducted.


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    Veteran Member happygiggles's Avatar
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    Default Re: what happened to my money

    question. on your stub where it reads "federal allowances" is that where the dependents should be?

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