Selling back your leave calculations

[patio]

Im planing on selling my leave back here in a couple months and wanted somebody to check my math to see if im calculating this correctly. Say i have 20 days to sell back, and that would be at 75% of my base pay then taxed.

I take my base pay X
Divide that by 30(Total Leave for 1 yr) = Y
Y multipled by however many days I sell = Z
75% of Z = how much they will give me for my leave, before taxes.

I probably made this more confusing then it is but lemme know what ya think.

 

[Ian_J]

As far as I know it's simply your base pay, taxed as it normally would be. Not sure where you are getting that 75% number.

So it would be base pay divided by 30 do get a daily rate.

Daily rate x 20 days.

And that amount would be taxed.

 

[Mike Lewis]

Im planing on selling my leave back here in a couple months and wanted somebody to check my math to see if im calculating this correctly.

That's a good idea. My accounting and finance didn't calculate it correctly, and it went for about a year back and forth. They overpaid me, so I had to repay them like $300, then I overpaid them so they then had to pay me back about $50...

That's why I can't answer the question. I never figured out what math they used, but I just finally accepted it when DFAS told me it was all good. Somewhere in there it all matched up with my pay statements.

The part that sucked was when my MPF told me I was going to lose a week in use or lose, so I took a week of leave, and then ended up only being able to sell back 53 days... Grrrr.

 

[Ian_J]

I think the best advice is try not to sell your leave. You only get base pay - no BAH, BAS, or any special pays. Might as well take your leave and get fully paid to boot.

 

[Mike Lewis]

I think the best advice is try not to sell your leave. You only get base pay - no BAH, BAS, or any special pays. Might as well take your leave and get fully paid to boot.

Oh, yeah, I second that.

That was always my plan, but stop-loss killed me. That was why I wasn't prepared to calculate the leave I was selling back. I planned on taking a leisurely 60 days to chill out and do my job search while living comfortably and still getting paid.

After stop-loss, I got a "get out tomorrow" release, my leave paid back to me in installments about 90 days later, unemployed for about 4 months until I finally got a job.

If I would have known that I wouldn't be able to actual use and enjoy my terminal leave, I would have taken more leave while on active duty. Then again, hindsight is always 20/20. And I also accrued most of my terminal leave my first two years when I worked all the holidays while I was single so the married guys could go enjoy holidays with the families; I did it more so they could enjoy the time with family than my desire to rack up lots of time off, so even if I had the opportunity, I probably still wouldn't have taken it.

But, I think Ian is right. Take the leave if you can.

 

[Ian_J]

Oh, yeah, I second that.

That was always my plan, but stop-loss killed me. That was why I wasn't prepared to calculate the leave I was selling back. I planned on taking a leisurely 60 days to chill out and do my job search while living comfortably and still getting paid.

After stop-loss, I got a "get out tomorrow" release, my leave paid back to me in installments about 90 days later, unemployed for about 4 months until I finally got a job.

That sucks ass!

And I almost knew how that felt; they *almost* refused to give me my terminal leave so I could instruct at camp this summer.