All - for those who left Deloitte, how was PTO payout calculated for you? I know it’s your salary/(52 weeks x 40hr/wk) and then multiply it by the PTO hours accrued. I read it’s taxed at 22%. Is that the only tax or you also have to add social security & Medicare tax %? Thanks!

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Take salary divide by 2080 hours then multiply that by number of hours you have saved up. It’s taxed as ordinary income so you’ll pay all your taxes unless you hit those thresholds. You can double check that income limit for that but believe it’s $140+

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When you resign, the ELE team sends you a note that PTO is a supplemental wage. That tax rate is a flat 22% no matter your earning as long as they are under 1mil in which case it would be 37%.

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I thought we didn’t get paid out unless you are in California?

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Not true.

I only paid the 22% since it was "other income" but I had also maxed FICA so I'm not sure if you own FICA on top of it

Looked it up - it’s a flat rate and no fica since it’s supplemental

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