I've recently moved from Illinois to Missouri and am struggling to understand how I'm paying almost 8% more in income tax than my previous job. Here are sample paychecks from both jobs ($67,600 old vs $81,000 new):
Old job - paid weekly, no overtime:
$1300 gross - $195 401k contribution = $1,105 taxable
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Federal: 122.87 (11.1%)
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SS: 80.60 (7.3%)
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Medicare: 18.85 (1.7%)
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IL: (3.8%)
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Total tax: 263.76 (23.9%)
New job - paid bi-weekly, no overtime:
$3115.38 gross - $389.67 in combined benefits (186.92 401k, 135.21 medical, 50 HSA, 12.57 dental. 4.97 vision) = 2725.71 taxable
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Federal: 495.41 (18.2%)
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SS: 180.87 (6.6%)
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Medicare: 42.3 (1.6%)
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MO: 129 (4.7%)
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Total tax: 847.58 (31.1%)
Federal taxes take the biggest jump, and I just noticed on my paystub that my Federal status is Single while my MO status is Married (which is correct). Did I mess something up on my W4? If not, what else might be going on here? I don't think my income increased enough to jump tax brackets?
Submitted October 28, 2017 at 09:05AM by sorrowborn http://ift.tt/2zLpIyu
