Thread: Taxes
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Old 04-04-2018 | 01:57 PM
  #9  
bruhaha
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Originally Posted by nkbux
That’s what I was looking for... thank you
Yep the union gets their grubby 2%

if Spirit doesn’t use the flat 22% and instead decides to Calculate it with your April 15 or April 30 check, I.e. method b, then it will be withheld at a much higher rate.

For example as a 5 year captain, base pay is 36 x 202.
So gross base pay is $7272. If they add the compensation payment to the April 15 or April 30 check amounts, then the withholding is for a single guy $6278.84 plus 37% of the wages above $20988. Or for a married guy $6724.11 plus 37% of the wages above $25481.

So 37%+6.2%+1.45%= close to 45%. So that’s where your 45% comes from.

I think Spirit will probably calculate it both ways flat 22% and method b and withhold whatever is higher, and I’m also going to wager they are going to use April 30 figures as everyone gets just 36hours on their April 30 check. April 15 everyone makes something totally different From everyone else.
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