Thanks for working through this with me Opus. I am trying to get info from the benefits department as well but they are giving me very short answers and basically told me to "ask a tax specialist" for help understanding it.
To me it seems like they are deducting the entire amount of the imputed income they calculated. After I added my DP a few days ago they wrote me this:
"In addition, with your Domestic Partnership, we will also need to deduct the imputed income to make up for the previous payrolls and all will be taken on your 10/10 payroll in the amount of $1,094.40. Following the 10/10 payroll, your imputed income will be $273.60, per pay period."
Since I get paid twice per month, it sounds like they calculated my imputed income to be $273.6 and simply multiplied that by 4 and are deducting that from my next paycheck. Going forward the $273.6 calculated imputed income will continued to be deducted from my paycheck. But from what you said and what I've researched, that's not how imputed income works is it? It shouldn't just be taken out of my paycheck right? Imputed income is taxable I understand, but the entire imputed income isn't something that should get taken out of my paychecks is it?
I looked at a pay stub online that shows that the employer contribution for both of our healthcare is $505.38 twice a month or $1,010.76 monthly. If half of that (the amount they're paying for my DP) is imputed income, then that gets us close to the $547.2 monthly imputed income. The extra amount I believe comes from the dental coverage provided.
My employment is contract-based, but the monthly salary is $4506.68. I don't see anything on my last pay stub that says social security specifically, but FICA Medicare withholding was $32.68 and Fica OASDI was $139.71. Is that what you were asking for?
I haven't received a paycheck since the message above they sent me that I quoted, and I guess I wouldn't be able to do those calculations since they are going to be making all of those deductions. But maybe it will work once I see those FICA Medicare and Fica OASDI values?
From this information would you agree that they are improperly deducting the calculated imputed income from my paycheck? Please let me know if there's any other info I can provide or if you agree that they shouldn't be deducting the entire amount of the calculated imputed income from my checks! Much appreciated all of your help 🙂
