chassisgroupleader Posted February 7, 2013 Share Posted February 7, 2013 So when are we getting the money? March 14th or the 8th? Quote Link to comment Share on other sites More sharing options...
Ktp1989 Posted February 7, 2013 Share Posted February 7, 2013 So when are we getting the money? March 14th or the 8th? 14th Quote Link to comment Share on other sites More sharing options...
chassisgroupleader Posted February 10, 2013 Author Share Posted February 10, 2013 Thanks. Quote Link to comment Share on other sites More sharing options...
mtprubberrat Posted February 11, 2013 Share Posted February 11, 2013 Does anyone know if the Married and 99 tax exepmtion really works a guy asked me and I doubt it,? Quote Link to comment Share on other sites More sharing options...
Pioneer Posted February 11, 2013 Share Posted February 11, 2013 You will get taxed at 25% for your federal no matter what your deductions are. Quote Link to comment Share on other sites More sharing options...
fordtpworker1993 Posted February 12, 2013 Share Posted February 12, 2013 (edited) You can claim married and 99 and no federal taxes will come out! but I wouldn't recommend doing it unless you get a good amount tax refund when you file. I've done it the last 2 years......I didn't change nothing with my state taxes though Edited February 12, 2013 by fordtpworker1993 Quote Link to comment Share on other sites More sharing options...
Maislebandit Posted February 13, 2013 Share Posted February 13, 2013 All profit share checks are taxed the same, regardless of your exceptions. Electing to put your check in tesphe is the only way to get around the tax. Also, you can only claim exempt on your regular checks if you had a refund last year. Quote Link to comment Share on other sites More sharing options...
fordtpworker1993 Posted February 13, 2013 Share Posted February 13, 2013 All profit share checks are taxed the same, regardless of your exceptions. Electing to put your check in tesphe is the only way to get around the tax. Also, you can only claim exempt on your regular checks if you had a refund last year. Married and 99 is the way around the federal tax! I know because I've done it!...at DTP you can turn your filing status in the week before you know your getting it, not sure if its the same at other plants. Quote Link to comment Share on other sites More sharing options...
chassisgroupleader Posted February 14, 2013 Author Share Posted February 14, 2013 With married and 99 give me 100% of the profit sharing check? Quote Link to comment Share on other sites More sharing options...
SU-FI Posted February 14, 2013 Share Posted February 14, 2013 Married and 99 is the way around the federal tax! I know because I've done it!...at DTP you can turn your filing status in the week before you know your getting it, not sure if its the same at other plants. you're not "getting around the federal tax" you're just delaying it. the government will get there cut, it's just a matter of when. Quote Link to comment Share on other sites More sharing options...
fordtpworker1993 Posted February 14, 2013 Share Posted February 14, 2013 you're not "getting around the federal tax" you're just delaying it. the government will get there cut, it's just a matter of when. Yes they do but at least its not the 25% when you file. Quote Link to comment Share on other sites More sharing options...
shaggy314 Posted February 14, 2013 Share Posted February 14, 2013 Not a Ford employee, but at our company I use the profit sharing check to prefund Health Savings account (or, if you have it 401k, IRA, anything pre-tax) since profit sharing is usually taxed at higher than your normal rate. Since it gets pulled out pre tax, I'm taxed less on the higher taxed money, but I'm nto a financial planner... Quote Link to comment Share on other sites More sharing options...
fordtpworker1993 Posted February 14, 2013 Share Posted February 14, 2013 Not a Ford employee, but at our company I use the profit sharing check to prefund Health Savings account (or, if you have it 401k, IRA, anything pre-tax) since profit sharing is usually taxed at higher than your normal rate. Since it gets pulled out pre tax, I'm taxed less on the higher taxed money, but I'm nto a financial planner... You can do that here too, I usually put a % in TESPHE and take a % home. I just choose to have the % taking home not to have any federal taking out. It doesnt really affect me when I file in Feb. Quote Link to comment Share on other sites More sharing options...
damagedone37 Posted February 14, 2013 Share Posted February 14, 2013 Not a Ford employee, but at our company I use the profit sharing check to prefund Health Savings account (or, if you have it 401k, IRA, anything pre-tax) since profit sharing is usually taxed at higher than your normal rate. Since it gets pulled out pre tax, I'm taxed less on the higher taxed money, but I'm nto a financial planner... Then don't post in here! Ford employees only forum! 1 Quote Link to comment Share on other sites More sharing options...
Ktp1989 Posted February 14, 2013 Share Posted February 14, 2013 (edited) Filing tax exempt and 99 will work on a regular paycheck...but will not work on the profit sharing because it is a bonus check. You will pay 25% on it regardless of what you file...that is a guarantee....unless you put it all in TESPHE...as I always do! Edited February 14, 2013 by Ktp1989 Quote Link to comment Share on other sites More sharing options...
lquidspine Posted February 14, 2013 Share Posted February 14, 2013 Filing tax exempt and 99 will work on a regular paycheck...but will not work on the profit sharing because it is a bonus check. You will pay 25% on it regardless of what you file...that is a guarantee....unless you put it all in TESPHE...as I always do! If you put it all into TESPHE then state,fica,city and union fees will come out of a regular paycheck. If going TESPHE route I suggest putting in 85 or 90% otherwise dont be surprised when your next paycheck has all those taxes taken out, TESPHE only guards you from federal taxes all the others will get theirs. Quote Link to comment Share on other sites More sharing options...
fordtpworker1993 Posted February 14, 2013 Share Posted February 14, 2013 Filing tax exempt and 99 will work on a regular paycheck...but will not work on the profit sharing because it is a bonus check. You will pay 25% on it regardless of what you file...that is a guarantee....unless you put it all in TESPHE...as I always do! I sound like a broken record, it works on bonus checks too!!!!!! I know people that did it with their moving allowance, I've done it with profit sharing, have you????? obviously the people saying you can't don't know!!! Quote Link to comment Share on other sites More sharing options...
lquidspine Posted February 15, 2013 Share Posted February 15, 2013 I sound like a broken record, it works on bonus checks too!!!!!! I know people that did it with their moving allowance, I've done it with profit sharing, have you????? obviously the people saying you can't don't know!!! I know when I have done this it worked, however state, fica, city and union dues are still taken out maybe thats were the mix up is /shrug Quote Link to comment Share on other sites More sharing options...
mtprubberrat Posted February 15, 2013 Share Posted February 15, 2013 I tried it with the signing bonus and it did not work .? Quote Link to comment Share on other sites More sharing options...
Ktp1989 Posted February 16, 2013 Share Posted February 16, 2013 If you put it all into TESPHE then state,fica,city and union fees will come out of a regular paycheck. If going TESPHE route I suggest putting in 85 or 90% otherwise dont be surprised when your next paycheck has all those taxes taken out, TESPHE only guards you from federal taxes all the others will get theirs. I am quite aware...been doing it for years. Sometimes takes several weeks to catch up the taxes from the state...but will be worth it at retirement. But the 85 percent works if you can't afford to pay the taxes the coming weeks. Quote Link to comment Share on other sites More sharing options...
chassisgroupleader Posted February 16, 2013 Author Share Posted February 16, 2013 What about all the people getting a $10,000 IRS refund check? Is that a scam? I heard several elected union officials have been doing this for years? Quote Link to comment Share on other sites More sharing options...
Pioneer Posted February 16, 2013 Share Posted February 16, 2013 If you put it all into TESPHE then state,fica,city and union fees will come out of a regular paycheck. If going TESPHE route I suggest putting in 85 or 90% otherwise dont be surprised when your next paycheck has all those taxes taken out, TESPHE only guards you from federal taxes all the others will get theirs. I put 92% into TESPHE last bonus and the rest into my Ford Interest Advantage account, and what was deposited was less than $10. Quote Link to comment Share on other sites More sharing options...
mtprubberrat Posted February 17, 2013 Share Posted February 17, 2013 (edited) I have heard anyone that gets over $7k raises a red audit flag for them to start checking you out according to my accountant. What about all the people getting a $10,000 IRS refund check? Is that a scam? I heard several elected union officials have been doing this for years? Edited February 17, 2013 by mtprubberrat 1 Quote Link to comment Share on other sites More sharing options...
chassisgroupleader Posted February 17, 2013 Author Share Posted February 17, 2013 I have heard anyone that gets over $7k raises a red audit flag for them to start checking you out according to my accountant. Hope you are right, and all these thieves get audited! Quote Link to comment Share on other sites More sharing options...
chassisgroupleader Posted February 21, 2013 Author Share Posted February 21, 2013 I hate criminals! Quote Link to comment Share on other sites More sharing options...
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