I’m finally starting to get paid for my Commodus work on a more regular basis. The paychecks are nice. A little too nice, actually. Uncle Sam and the state are only taking out about a third, when it needs to be about 40-45%. This was not entirely unexpected. Though I had taking 0 deductions, anything I make goes to our highest tax brackets. They had a formula that you can use in order to take more out, but it appears that you can’t say “take out an additional 10%” but only “take out an extra $x.” Which would be fine if my paychecks were a constant amount. But depending on if I have scant work or am working overtime, they could be taking an extra $100 out of a paycheck for $120, or taking $100 out of a paycheck out of $x,000. Until my hours stabilize, I’m going to just have to remember that I am going to owe the government(s) some money.

Category: Statehouse

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2 Responses to Uncle Sam’s Take

  1. Mike Hunt says:

    Once upon a time, I would have said to just take the free loan from the government and make some interest on it.

    However, in 2011 there seems to be a lack of risk-free short-term investment opportunities. So just keep it in the bank until April 15 comes. Fixing the paperwork is more trouble than it is worth.

  2. trumwill says:

    Yeah. We won’t have a problem keeping enough in the bank for it. Still, it kind of messes with my vague accounting system. And it’s such an obvious problem with the way they go about it. I can’t be the only one for whom this is a problem.

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