Anonymous
Anonymous asked in Business & FinanceTaxesCanada · 7 months ago

If you get one months pay on one paystub instead of getting paid every week are you taxed more? ?

I still make the same amount of money but if i got paid one months pay on one paystub instead of once a week would i be taxed at a higher rate since the paystub will be way more money? Or is it the same as i would be taxed getting paid once a week just seems like more since its a bigger paystub? If that makes any sense. 

5 Answers

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  • 7 months ago

    Proportionately the same.

  • 7 months ago

    Your tax liability is the same no matter how the money is paid.

    The withholding is based on your W4, the size of the check, and the frequency of pay.

  • 7 months ago

    More is withheld, but you are not "taxed" more. When you file after the end of the year, you pay less or get back more, so you do not end up with less money.

  • Shay
    Lv 7
    7 months ago

    The difference would be very little because they use a different type of calculation when determining tax rates for longer pay periods.

    For example, I work at a company that pays biweekly.  Every check is based on a two week time frame which is usually 80 hours plus any overtime during that pay period.  BUT - the tax calculation separates that 80 hours into the 40 hours sections that would have been per week and taxes are based on each 40 hours as if they stood alone instead of combined.  Then the total taxes are taken out of the 80 hour check.

    So, I am getting taxed for the total paycheck BUT it is being taxed at the rate that would apply as if I was being paid weekly instead of biweekly.  

    You might notice a minor difference  - maybe a few dollars - but it shouldn't make a huge difference or cause an extreme change in the amount you are taxed.  

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  • Judy
    Lv 7
    7 months ago

    You'd end up with the same amount withheld, give or take a couple cents for rounding. they use different tables dpending on frequency of your pay.

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