I have recently switched jobs, where previously I was getting paid semi-monthly and now I am getting paid weekly. When I look at all the taxes and Social Security taken out at my previous job it is at about 22%. This seems right with where I should fall in the tax bracket.
In my new job, it totals up to be about 28%. I don't understand why this would be different as I am claiming 2 and Married at both places. If I look at my semi-monthly paycheck which is about $2k more than my weekly paycheck from my new job, the federal taxes are only like $40 more. Also my last paycheck from my previous employer was a lot less as I didn't work one of the weeks and is about $1k more then my weekly new paycheck but the old one is $100 less in federal taxes, despite being more gross income.
I am trying to figure out if there is something I can do to make it be more like my last company in terms of taxes but even trying the ADP calculators seem to match what my paycheck is saying and even putting the allowances up to 4 doesn't seem to effect it much.
This is kind of frustrating because I was anticipating more money with this change in jobs as I am making a lot more money but in reality when it comes down to it I am only making a few hundred dollars more a month than what I was.
What I don't understand is like I said earlier, the ADP calculators match more of my new job, but my old job's semi-monthly is processed by ADP and doesn't match what the calculators are saying, the calculators and everything seem to do 28%. I should be falling into the 25% bracket and since I researched how tax brackets work, it makes sense that previously it was about 22% being taken out.
Anyone have any knowledge on this?