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Typical Paystub-Married two kids joint filing

Typical Paystub-Married two kids joint filing

Old Sep 20th 2016, 1:56 pm
  #16  
 
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Default Re: Typical Paystub-Married two kids joint filing

Originally Posted by MidAtlantic
Surely your HSA contribution is voluntary and distorts your figures? ....
You could certainly argue that, but then if I opted for a "traditional" health insurance policy my "mandatory" deductions would be much higher.

As it happens in my case, the cost of traditional health insurance is almost identical to the cost of my HD insurance PLUS the maximum permitted contribution to my HSA. Therefore in my own mind I categorize "insurance plus HSA" as a mandatory deduction from gross pay even though you are correct and the payment into my HSS is actually voluntary.
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Old Sep 20th 2016, 3:44 pm
  #17  
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Default Re: Typical Paystub-Married two kids joint filing

However you HSA and 401k deductions are really income. Do you have signing authority on the accounts and do that accounts have value.

Insurance is a difficult one because it depends on which plan you want to take. One company I know has 4 tiers of health insurance depending on what deductibles you want to have. The company I work for just has 2 high deductible health plan options, no traditional. Not in my state.

Also it depends if it for a family or an individual. Some employers do not have subsidized family health plans and others just contribute a fixed amount that can be spent as you choose.

maybe it's just easier to leave health insurance out of the equation because there are so many variables.
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Old Sep 20th 2016, 3:53 pm
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Default Re: Typical Paystub-Married two kids joint filing

Originally Posted by mrken30
However you HSA and 401k deductions are really income. Do you have signing authority on the accounts and do that accounts have value. .....
We're talking about net income for informational purposes - that's what the OP of this thread wanted, we're not answering a question in a tax law exam, so we can slice and dice the numbers and present them however we want, and how we feel would be most useful. Clearly several people have presented their take home pay percentages in several different ways - at least one included his 401k as a deduction IIRC. To my way of thinking, contributing to my HSA is part of the cost of providing health insurance coverage for my family, so I consider it to be mandatory.

I am not going to go back and restate my percentage deduction based on your view that I should have excluded my HSA contributions, not least because you could use the numbers and go back and calculate my gross salary, but suffice to say if I confine deductions to what is truely mandatory my net pay would by comfortably over 70% of my gross pay.

Last edited by Pulaski; Sep 20th 2016 at 3:56 pm.
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Old Sep 21st 2016, 11:08 am
  #19  
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Default Re: Typical Paystub-Married two kids joint filing

Originally Posted by Pulaski
We're talking about net income for informational purposes - that's what the OP of this thread wanted, we're not answering a question in a tax law exam, so we can slice and dice the numbers and present them however we want, and how we feel would be most useful. Clearly several people have presented their take home pay percentages in several different ways - at least one included his 401k as a deduction IIRC. To my way of thinking, contributing to my HSA is part of the cost of providing health insurance coverage for my family, so I consider it to be mandatory.

I am not going to go back and restate my percentage deduction based on your view that I should have excluded my HSA contributions, not least because you could use the numbers and go back and calculate my gross salary, but suffice to say if I confine deductions to what is truely mandatory my net pay would by comfortably over 70% of my gross pay.
As per your fine self and fussy bollocks, my pay with ONLY mandatory deductions is 74.444% of my gross pay
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