ramfan402402
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Tax question for the smart folks out there. If my SF 50 says my pay is X amount why would my W2 show about 8k less for the year?
SF50 and W2 Salary Differences
- Thread starter ramfan402402
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Because your most recent SF50 shows your gross yearly salary figure, whereas W-2's only show taxable wages.
Each situation is different, but you likely contributed to at least some of these: TSP (traditional only), Dental/Vision insurance, FEHB, FSA, HSA. Those are all pre-tax and not included in your taxable wages.
Each situation is different, but you likely contributed to at least some of these: TSP (traditional only), Dental/Vision insurance, FEHB, FSA, HSA. Those are all pre-tax and not included in your taxable wages.
What Gavin74 said (W-2 only records taxable wages) but also: There aren't exactly 52 weeks in a year, so you don't get exactly your "annual salary" in a year. Your wage isn't directly based on the number on the SF-50, it's based on an hourly rate calculated by dividing that annual number by 2087. If you worked a standard 9-5 office job, most years (26 paychecks) you would get less than that number because you worked less than 2087 hours that year. But some years (27 paychecks) you'll make more.
This changes again because we get differentials and overtime, which usually raise your true pre-tax income significantly above the annual salary shown on your SF-50.
This changes again because we get differentials and overtime, which usually raise your true pre-tax income significantly above the annual salary shown on your SF-50.
