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    funcreations's Avatar
    funcreations Posts: 3, Reputation: 1
    New Member
    		  
    #1

    Jan 5, 2008, 04:29 PM
    Pay Periond eds 12/30/07, Is this income 07 or 08?
    I just got my pay check on Jan 4, 2008 for working through 12/30/2007. Pay period ended on 12/30. But I received the check on 1/04/08. Is this income for 2008 or 2007?
    I think it should be 2007. Please advise. I maxed out my FICA and noticed I got charged the 2008 rates on othe decuctions. This is a significant amount of money. Any advise on having it recalculated?
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Jan 5, 2008, 11:04 PM
    Redundant post; already answered.

    You get taxed on the money when you RECEIVE it, which is January 2008.
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