When i was hired at my current job last sept i was a "Independant contractor" taxes were not taken out of my paychecks until Jan of 2008. when i was put on salary, after a review i was granted a higher salary. which i was told would be effective on feb 16th.
So heres my problem, no matter if i work 70 hours in that pay week or 94 my paychecks are still the same. is something not right here?
i.e 1 pay period my salary was lets say 20,000 a year, i worked only 70 hours and after taxes i recieve 680.00 give or take a few cents, next pay period is when my rasie went into effect and i worked 94 hours at 22,000 a year with my paycheck being excatly the same amount as my previous one.
i went to website that calcualtes how much taxes will be taken out, the net pay they show is lower than what i get. nothing seems to be adding up for me, also i might add my company is a small business, and we do not have an accounting department, its the owners wife who deals with that. but many emails ive sent never make any sense.
am i thinking wrong here? i have never had a job where i am on salary, so i might be a bit confussed and sound really dumb please someone explain it to me.
And also my salary is what i gues sis considered salary exempt. if i work more than 40 hours a week they adjust my check so i get paid for that time, or if i work less they adjust it down