Ouch!!! The tax increase sucks

[edro]

Damn, if that's biweekly, that is 25*250=6250/year!
I get paid monthly, so I won't know until Feb.1.

 

[Cattlegod]

about $150 here. and wife lost her job so this is hitting twice as hard...

wouldn't it be hitting 1/2 as hard?

 

[SSSnail]

How often are you paid?

Bi-monthly. Or twice a month if you want to get technical; also depends on whether I hit it, or not, on op-ex days...

 

[j&j]

250 less, really? that's a ton, do you make 200k a year?

 

[Engineer]

Bi-monthly. Or twice a month if you want to get technical; also depends on whether I hit it, or not, on op-ex days...

Then that $250 is not from the 2% SS reinstatement alone, unless you had maxed out SS last year and have picked it back up again, in which you would have the full 6.2% showing back up instead of just the 4.2% from the last 2 years.

 

[Doppel]

I'm down about 12k/MONTH because of this!! Balla!

 

[Imported]

42% of my check goes to taxes. Haysoos.

 

[SSSnail]

250 less, really? that's a ton, do you make 200k a year?

That was eyeball figure, really ~$230.1 after calculation. I also put $20.9 more into HSA, so reallllly just $209.2.

So I exaggerated a bit...

 

[techs]

These numbers can't be right. Unless we have a bunch of ATOT'ers making three quarter of a million a year.

 

[Engineer]

That was eyeball figure, really ~$230.1 after calculation. I also, put $20.9 more into HSA, so reallllly just $209.2.

So I exaggerated a bit...

What taxes increased to reflect the $209.2? (other than the reinstatement of the temporary 2% SS tax cut from 2011/2012)

These numbers can't be right. Unless we have a bunch of ATOT'ers making three quarter of a million a year.

They can but it depends on whether OP had maxed out SS and had stopped paying it last year at some point, then picked it up again on this check. Of course, that would not be a big increase in the tax rate, as 2/3 of the tax increase would be just picking up where he left off when he maxed out. I'm trying to figure out if the OP has, like so many others in the other threads, sensationalized the tax raise to make it appear that it's much higher than it was (not saying OP has done this....just trying to see why such a large raise in taxes).

 

[SSSnail]

What taxes increased to reflect the $209.2? (other than the reinstatement of the temporary 2% SS tax cut from 2011/2012)



They can but it depends on whether OP had maxed out SS and had stopped paying it last year at some point, then picked it up again on this check. Of course, that would not be a big increase in the tax rate, as 2/3 of the tax increase would be just picking up where he left off when he maxed out. I'm trying to figure out if the OP has, like so many others in the other threads, sensationalized the tax raise to make it appear that it's much higher than it was (not saying OP has done this....just trying to see why such a large raise in taxes).

Just the FedOASDI/and state taxes. But fret not, I called HR and they said part of the tax was for the company contribution to my HSA. So yay, I'm not that much poorer. Still need a hug though.

Gonna have to wait until next paycheck to see what my effective taxes are.

 

[Engineer]

So you just called the company between the time you posted the OP and your last post? :hmm:

So how much was due to the SS tax reinstatement and how much from OTHER taxes (real taxes, not HSA's or healthcare premiums, etc) actually raising?

 

[thestrangebrew1]

I ended up getting about $50 a check being taken out due to taxes. I think my wife's check was about $30 less. We both get paid 26 times/year.

 

[sandorski]

Obama ain't gonna take yer guns. He gonna take yer money until y'all sell yer guns to eat. That's why the Fed has bin doing all those Quantitive Easings, ta buy back starving Murcans guns while makin it hard to buy guns when y'all got money agin.

D:

 

[Dr. Detroit]

Down about two fiddy from this blasted reinstatement.

No outrage from me though as We all knew it was temporary - I'm just glad it lasted to years. That was 2% in my savings and not in the Govt's faux retirement account.

 

[SSSnail]

So you just called the company between the time you posted the OP and your last post? :hmm:

So how much was due to the SS tax reinstatement and how much from OTHER taxes (real taxes, not HSA's or healthcare premiums, etc) actually raising?

This is what's shown on my withholding for this period:

Fed 564.5
Fed MED/EE 63.41
Fed OASDI/EE 271.1
CA withholding 310.2

The things that changed are oasdi and state. You wanna do my taxes?

 

[SSSnail]

So you just called the company between the time you posted the OP and your last post? :hmm:

So how much was due to the SS tax reinstatement and how much from OTHER taxes (real taxes, not HSA's or healthcare premiums, etc) actually raising?

This is what's shown on my withholding for this period:

Fed 564.5
Fed MED/EE 63.41
Fed OASDI/EE 271.1
CA withholding 310.2

The things that changed most are oasdi and state. You wanna do my taxes?

 

[zinfamous]

thanks for the donation, sucka! Mine went up about $200.

 

[Engineer]

This is what's shown on my withholding for this period:

Fed 564.5
Fed MED/EE 63.41
Fed OASDI/EE 271.1
CA withholding 310.2

The things that changed most are oasdi and state. You wanna do my taxes?

Your SS tax went up $87.45 per pay period. (271.1 / 6.2 * 2)

You make approx. $104941.94 per year.

Don't know about your other taxes. You don't make enough to fall into the tax hikes of the federal government ($400,000 and $450,000). CA taxes probably did go up (seems like they always do).

 

[SSSnail]

You forgot my bonus! Did you also factor in single or married? But who's counting and nitpicking besides you? I threw that in there just to fuck with your head.

 

[Engineer]

You forgot my bonus! But who's counting and nitpicking besides you?

That wasn't in the numbers that you posted so no way for me to know. I'm on ly nitpicking because I've seen more than a few throw up numbers that in no way can be possible from the small federal government tax increase (2%) alone. However, you may have a larger increase because I don't know what Cal. did. Based on the idea that you stated around $209.00 and the fact that you paid $87.xx extra in SS, that would indicate that California and local taxes (based on tables) have went up approximately 2.8%, unless there are other increases (healthcare, etc) that aren't accounted for.

I have a bad, 4 week headache...I'm allowed to nitpick. You can't fuck with my head any more than it already is and marriage has no bearing other than if you have it listed for your federal income taxes, which did not go up.

Maybe the neurologist will find something wrong tomorrow and fix it for me so I won't nitpick....either that or I'll just die and it won't matter anymore.

 

[SSSnail]

It's all good. :hug:

Damn it! I should have posted my taxes when my bonus hit, that will throw off a few things. :awe:

 

[Engineer]

It's all good. :hug:

 

[Red Squirrel]

Our company has taken away a lot from us such as cost of living increase and our bonus in the last union agreement, but so far, at least they did not reduce our wages, and that I am grateful for. They did remove one of the higher pay scales but anyone who was on that scale got grandfathered in. If they had not removed that pay scale I'd be making about 2 bucks extra per hour at my current job. I'm still making a lot of money though, so can't complain. I made like 70k this year including overtime and such. Base is around 60k.

I'm kinda nervous to see what my tax return will look like though. First time I have a job with variable pay checks (shiftwork) so I'm scared that might do something where I get screwed and end up paying lot of taxes. Hopefully I still get money back. My dad works commission and gets huge returns... so I kinda hope that's what happens to me. I just have to be sure to buy lot of RRSPs to be on the safe side. Waiting for my stocks to come in. Cashed them but it takes a week or so till it goes in the bank. 5k cash. So I'll put maybe half of that into RRSPs. Hopefully it will be enough. I'd like to start framing my basement, drycore the floors, and possibly insulate+drywall. Going to wait till my tax return for that though, just in case I do get screwed.

edit: wow just realized this was suppose to be in reply to another thread, which I can't find now... it was about pay cuts. Guess it's sorta related. More taxes, no cost of living raise = smaller pay.

 

[isekii]

You call 3K a small raise? Mother fucking 1% ers.

Try 30 cents

That's normal for where I work.

With the health insurance increase, the raise merely covers that and a lil extra towards 401k.

Still part of the 99%.