Happy Profit Sharing Day!

[Kev3188]

my only issue is the fact that since delta cut a separate check for profit sharing, the federal withholding rate is a flat 25%.  if the profit sharing was combined with our regular check, normal withholding rates would apply.  for me personally, i think it cost me somewhere around an extra $1000 in federal withholding.
 
why do i need the federal government to hold my money until i file next year?

I thought the (combined) check in October had separate withholding amounts for our regular rates, and the PS portion?

 

[metopower]

It's the IRS. Or evil Delta following the rules.Sure glad your worried about my tax problems.

 

[Kev3188]

It's the IRS. Or evil Delta following the rules.

Or both...

Since your PS payment came in a regular check (correct?), did it look like the withholding rates were separate?

 

[metopower]

Haven't looked. But history tells me that they followed the rules and accounted it differently. Not Evil in my book.

 

[WorldTraveler]

my only issue is the fact that since delta cut a separate check for profit sharing, the federal withholding rate is a flat 25%.  if the profit sharing was combined with our regular check, normal withholding rates would apply.  for me personally, i think it cost me somewhere around an extra $1000 in federal withholding.
 
why do i need the federal government to hold my money until i file next year?

whether it is on one check or two doesn't change that bonus type payments must be withheld at 25%.

if you are overwithheld relative to your regular tax rate, you will get a refund. Given that you received your Feb 14, 2014 and your October payments in 2014, your tax filing which you should be doing now will incorporate the two payments you received.

the actual tax rate is the same so your total DL income for 2014 will be taxed at the same rate.

 

[southwind]

my only issue is the fact that since delta cut a separate check for profit sharing, the federal withholding rate is a flat 25%.  if the profit sharing was combined with our regular check, normal withholding rates would apply.  for me personally, i think it cost me somewhere around an extra $1000 in federal withholding.
 
why do i need the federal government to hold my money until i file next year?

While I agree, the real culprits, raiding our checks, are the Feds.
Believe it high time to change the tax code, whether it be a flat tax or the one I prefer, the Fair Tax!

 

[FWAAA]

my only issue is the fact that since delta cut a separate check for profit sharing, the federal withholding rate is a flat 25%.  if the profit sharing was combined with our regular check, normal withholding rates would apply.  for me personally, i think it cost me somewhere around an extra $1000 in federal withholding.
 
why do i need the federal government to hold my money until i file next year?

Say you're paid 24 or 26 times a year, and your profit sharing is $10,000. Employers are permitted to use the normal withholding tables but in that case, the tables assume that someone who just got $10k is going to get it every pay period going forward, and thus the normal withholding tables would assume you're going to earn an extra quarter million dollars that year. Because of that, the 25% bonus rate on withholding is probably the cheaper alternative.

 

[topDawg]

With all this extra money, all y'all should buy us a round (or two, or three) ... ... ...

Depends, how much do we get with Delta + 7? *duck* 
 
Speaking of, anyone doing anything good with their PS checks? 
 
Or are most people in the "my wife already spent it" boat or the "right into my 401K" boat?
 

Title says it all!

Word. Congats Southwind, Kev, Baba, Meto and all the other 80K of us. here is to even more money next year! 
 

Huh?
 
I'm trying to be funny

lol no joking here! 
 

Looks like you're in the green now...

yep. 
 

don't worry, southwind.

haters will always be haters.

the union ilk that is the bread and butter of this board can't stand that DL people are succeeding using a non-union formula.

I don't think thats the case at all. I think you have some AA people who just hate for hating, LDV....(but much like you hate AA just cause..) 
so the pissing contesters around here are a big part of it. 
Also have some jealous OAL employees. 
 
but for the most part, again, the competition doesn't isn't there for most of us like it is for you and the 4th floor types. 
 

it's noteworthy that maintenance at DL has long had some of the lowest interest in unions compared to other workgroups.

They kiss our ass the most. 
by far. 
 
Long as they don't have time clocks in at ATG then you wont hear about a big push...... 
 

does getting paid above average salaries not constitute being treated like a professional?
 

No. Again, this is a QOL issue you can't throw a stat at. Doesn't matter if you pay me a million bucks if I have a sh**y manager i will still have the same manager after my pay check. 
 
I know ACS is, a lot of the time, treated like dirt. (of course some of the reason for that is, at least in ATL, the dirt that they hire......There is a reason it is pretty hard to get to TechOps from ACS....) 
 

DALPA? PAFCA?

They don't count.... 

 

[Whipmaster]

Say you're paid 24 or 26 times a year, and your profit sharing is $10,000. Employers are permitted to use the normal withholding tables but in that case, the tables assume that someone who just got $10k is going to get it every pay period going forward, and thus the normal withholding tables would assume you're going to earn an extra quarter million dollars that year. Because of that, the 25% bonus rate on withholding is probably the cheaper alternative.

fact is, its a one time bonus.  there is no reason we cant have it lumped into our normal paycheck and get the normal withholding.  it is giving the govt a free loan plain and simple.  just cant see any advantage to anyone by doing it this way.
 
the 'shared rewards' are handled this way
 
and to be clear, i am very thankful we have the bonus in the first place. no sour grapes here.

 

[Whipmaster]

whether it is on one check or two doesn't change that bonus type payments must be withheld at 25%.

if you are overwithheld relative to your regular tax rate, you will get a refund. Given that you received your Feb 14, 2014 and your October payments in 2014, your tax filing which you should be doing now will incorporate the two payments you received.

the actual tax rate is the same so your total DL income for 2014 will be taxed at the same rate.

everything i have read says that 25% is withheld on bonus pay that is paid on a seperate check.  a bonus amount added to a normal paycheck would be withheld at normal rate.
 
now instead of paying cash for whatever i decide to purchase, i would have to finance and pay interest...all thanks to someone else holding my money that i earned.

 

[metopower]

I don't think thats the case at all. I think you have some AA people who just hate for hating, LDV....(but much like you hate AA just cause..) 
so the pissing contesters around here are a big part of it. 
Also have some jealous OAL employees. 
 
but for the most part, again, the competition doesn't isn't there for most of us

 
 
Couldn't have said any better! But I would have said usair people not AA original people.

 

[topDawg]

Depends, how much do we get with Delta + 7? *duck* 
 
Speaking of, anyone doing anything good with their PS checks? 
 
Or are most people in the "my wife already spent it" boat or the "right into my 401K" boat?
 

Word. Congats Southwind, Kev, Baba, Meto and all the other 80K of us. here is to even more money next year! 
 

lol no joking here! 
 


 

I don't think thats the case at all. I think you have some AA people who just hate for hating, LDV....(but much like you hate AA just cause..) 
so the pissing contesters around here are a big part of it. 
Also have some jealous OAL employees. 
 
but for the most part, again, the competition doesn't isn't there for most of us
[/quote
Couldn't have said any better! But I would have said usair people not AA original people.

Honestly the AA fan boys are way worse than anything US had. I know you aren't the biggest fan of 700 but their are a few people on the AA page that wouldn't piss on a Delta employee to put them out if they were on fire. 
 
Think the WT for AA...... 

 

[WorldTraveler]

AA people are the worst and have been for years.

Combine that with the bad blood that has existed between DL and US and you have the internet recipe we have today. and it isn't just DL internet fans that can't stand Parker and co. Read a few earnings transcripts if you don't believe it doesn't exist at DL's C suite.


as for withholding for profit sharing, all you have to do is figure out how to underwithhold your regular paychecks to account for what is withheld from your profit sharing checks (you being the DL employees who complain about giving the government a loan).

if you can't figure out how, spend $50 bucks to get someone to do your taxes and have them tell you how.

it ain't rocket science.

 

[robbedagain]

meto  I may be PMUS employee but in no way shape or form do I hate DL    And I don't think a lot of AA folks,  at least all the ones I know  like DL
 
WT  I highly doubt you here.     Youre wrong here     You really need help man.    You must be a real sad person to be with.      Ive known a lot of AA folks for years as well and yet none of them hate DL as you and meto seem to think.

 

[diamondcutter]

AA people are the worst and have been for years.Combine that with the bad blood that has existed between DL and US and you have the internet recipe we have today. and it isn't just DL internet fans that can't stand Parker and co. Read a few earnings transcripts if you don't believe it doesn't exist at DL's C suite.as for withholding for profit sharing, all you have to do is figure out how to underwithhold your regular paychecks to account for what is withheld from your profit sharing checks (you being the DL employees who complain about giving the government a loan).if you can't figure out how, spend $50 bucks to get someone to do your taxes and have them tell you how.it ain't rocket science.

Your profit sharing is made by donations from your congregation! I would like to see how much they would donate to you, (their preacher ) every Sunday knowing how you behave and treat others on this board!!!