1147218
You'll need to sign in or create an account to connect with an expert.
As I understand it you withheld $300 from each paycheck for tuition. You said that it was an after tax withholding. That means you paid the tax on it when you got each check. I cannot think of any other time it would be taxed.
The amount my employer pays is stated as my income received, and I get taxed on that... but I get the ~$300 pulled from my paycheck to payback the taxes my employer paid. Therefore, if I'm getting money pulled from my paycheck wouldn't that lower what they say is taxable income? I'm most likely not phrasing this correctly... but I feel like I'm paying twice..
... and no I did not select to have the ~$300 pulled from my paycheck. The tuition is considered taxable after the $5250 threshold and my employer will start automatically deducting the money from our paycheck.
What if they did not "pull" it from your paycheck? What if you just gave then 300 each pay period. How would that be any different?
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
temo7127
New Member
Stevers
New Member
msulimo
Level 1
pennylane
New Member
tabztinbarn
New Member