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Old 01-03-2009 | 09:33 AM
  #11251  
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From: ERJ FO
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for anyone wanting to cash out vacation, be aware that it is taxed at 25%. i didn't find out about this until i got my paycheck and it was about 350 less than it should be...
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Old 01-03-2009 | 09:57 AM
  #11252  
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From: blueJet
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Originally Posted by ComairFO
Just listened to the latest addition of "Straight Talk" with Mr. B.
Is that what they call it now? "Straight talk... from Bend-o"?

Straight, yet Bendy. I'm somehow conflicted by that. Like anything I hear from Comair these days.

That's a little more ironic than "Right from Richard", which I think should be renamed "We're talking out of our Dick..... Anderson"

Who's the orange shirt gal in your avatar? She doesn't look like one of Driver's half-naked little trollops.
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Old 01-03-2009 | 10:09 AM
  #11253  
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That would be Erin Andrews, my friend. She is a sideline reporter with ESPN--typically does college sporting events. If you still don't know who she is, try Google Images.
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Old 01-03-2009 | 10:38 AM
  #11254  
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She's hot!.
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Old 01-03-2009 | 02:46 PM
  #11255  
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From: blueJet
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Originally Posted by ComairFO
That would be Erin Andrews, my friend.
Straight, yet bendy.

Did you mean it as "That would be my friend, Erin Andrews" or did you mean it as "My friend, that would be Erin Andrews"?
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Old 01-03-2009 | 03:53 PM
  #11256  
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From: CRJ Captain
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Originally Posted by crjpylot
for anyone wanting to cash out vacation, be aware that it is taxed at 25%. i didn't find out about this until i got my paycheck and it was about 350 less than it should be...

It is not taxed at 25%. What you are trying to say was that in your case, 25% was withheld. It all gets rectified when you do your taxes next month, and that will determine your tax liability. Once tax liability is determined for your yearly income, you then know if you had too much withheld in which case you get a refund.

The software that does your payroll saw that extra amount of money on that check and it thinks you are going to make (as an example), 100K a year instead of 50K, so it tries to "withhold" the appropriate amount of taxes for a person making 100k.

To sum it up, you didn't get screwed.
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Old 01-03-2009 | 05:37 PM
  #11257  
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From: awkward & cramped
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Originally Posted by overworked
It is not taxed at 25%. What you are trying to say was that in your case, 25% was withheld. It all gets rectified when you do your taxes next month, and that will determine your tax liability. Once tax liability is determined for your yearly income, you then know if you had too much withheld in which case you get a refund.

The software that does your payroll saw that extra amount of money on that check and it thinks you are going to make (as an example), 100K a year instead of 50K, so it tries to "withhold" the appropriate amount of taxes for a person making 100k.

To sum it up, you didn't get screwed.
Because vacation pay is future earnings, it is considered a bonus and, therefore, taxed at the maximum rate per the IRS.

On regular earnings, you can have zero income taxes deducted from your regular payroll checks if you so choose. How you handle the liability then is up to you.

The payroll system makes normal deductions based on your filing status and the number of exemptions you choose. It doesn't care how much each pay check is nor does it increase withholding because of an increase in pay.
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Old 01-03-2009 | 07:27 PM
  #11258  
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From: Captain
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Originally Posted by evilboy
She's hot!.
Flat butt. Does nothing for me.
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Old 01-03-2009 | 09:14 PM
  #11259  
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Erin Andrews... not the hottest chick on the set, but she's very good at what she does. Don't grab her chest like the guy at 2:45 in this video.

YouTube - Erin Andrews
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Old 01-03-2009 | 10:40 PM
  #11260  
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From: EX - OHJFKCRJFO
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Originally Posted by imasaluki
Erin Andrews... not the hottest chick on the set, but she's very good at what she does. Don't grab her chest like the guy at 2:45 in this video.

YouTube - Erin Andrews
I don't drink Cristal no more, just pour it on white beaches heads...

Let's see if you guys know those lyrics! (it's my favorite rapper of course!)
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