Timeline for What is the difference between pre-tax and post-tax paycheck deductions?
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| Apr 13, 2017 at 12:25 | history | edited | CommunityBot |
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| Oct 2, 2013 at 23:48 | comment | added | JTP - Apologise to Monica♦ | @johnBensin - good edits. And a nice explanation of this topic. | |
| Oct 2, 2013 at 21:40 | comment | added | John Bensin | @JoeTaxpayer I tried to clear up the references to gross income, since you're right in that I'm actually referring to taxable income. | |
| Oct 2, 2013 at 21:39 | history | edited | John Bensin | CC BY-SA 3.0 |
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| Oct 1, 2013 at 14:25 | comment | added | JTP - Apologise to Monica♦ | @JohnBensin - the tax chart is for taxable income. In a few places within your answer, you say gross income. A single filer sees at least $10K off the top from standard deduction and exemption. | |
| Oct 1, 2013 at 3:17 | comment | added | John Bensin | @DilipSarwate Fair enough. I would argue that IRA's are still a good example of the basic differences between pre- and post-tax deductions, and the complications than can arise in dealing with them, but I'll work on writing up a different set of examples tonight or tomorrow and replace the parts of the answer that deal with IRA's. If you beat me to it, feel free to edit the answer or post a separate answer so that the information is at least included. | |
| Oct 1, 2013 at 3:06 | comment | added | Dilip Sarwate | I would suggest that using IRAs is a bad example for this issue which has to do with employers providing a benefit (e.g. employee can purchase health insurance for spouse and dependents at group rates) which can be paid for with pre-tax or post-tax dollars. Health insurance premiums paid post-tax are deductible from gross income in arriving at the taxable income, but with severe restrictions that make the deduction not usable by most people. IRAs, on the other hand, are very different beasts, and in particular have nothing to do with employers. (And please do not nitpick about SEP-IRAs). | |
| Oct 1, 2013 at 2:52 | history | edited | John Bensin | CC BY-SA 3.0 |
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| Oct 1, 2013 at 2:40 | history | edited | John Bensin | CC BY-SA 3.0 |
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| Oct 1, 2013 at 2:28 | history | edited | John Bensin | CC BY-SA 3.0 |
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| Oct 1, 2013 at 2:11 | history | answered | John Bensin | CC BY-SA 3.0 |