First Post-Graduation Paycheck

Today my paycheck was direct-deposited into our main checking account.

Gross Pay: $2557.05

Net Pay: $1786.02

After a quick calculation, I realized that 30% of my pay was withheld!!

I specifically filled out a new W-4 to reflect that I’m married now and wanted 1 exemption, but it wasn’t updated in the system. I’m really irritated because I was doing this to get more cash now for our house. Fortunately it will be fixed before my next paycheck.

I find it very hard to guess how much to withhold. We’ll probably tweak with our W-4’s again. I want money now, but don’t want too large of a tax bill next April…

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