Did you get hit hard by the expiration of the payroll tax holiday/increase in withholding?
I did. 9% decrease in take home pay.
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Did you get hit hard by the expiration of the payroll tax holiday/increase in withholding?
I did. 9% decrease in take home pay.
If a 2% increase accounts for 9% then 6.4% is 30%...you must max our your 401k and pay a ****load of your healthcare for it to decrease your take home by 9%....
I'm strictly commission, so I'm not sure how it's going to hit me. I'm ****uming I won't feel the crunch until I pay my taxes next year for my earnings this year but been wondering about that.
The following users like this post: suncoastsooner
Withholding tables were adjusted as well, I think. Not just the 2%...Originally Posted by pphilfran
After the OP, I figured out that at least some portion of that 9% occurred because my last few paychecks in 2012, I had paid in the annual max for FICA or SS or something. (I was told this off-hand; I don't have any control over that amount).
The following users like this post: suncoastsooner
About 10% here.
Almost all of my increase was social security and medicare.
The worst part is- you know this extra money we're all chipping in isn't going to fix a damn thing.
8 users like OUMallen's post: AcousticSoup, cosmoxl, IndySooner, jdmt37, OUEverest, OUSchitzo, pbc2003, Sooner Bob
In 2013 your will pay an additional 2% payroll taxes on everything you earn up to $113,700
Once you hit 110,100 they stopped withholding 4.2% of your payroll taxes...
1.4%
Couple Hundred bucks a pay period. But I also upped my FSA contributions and added a few other things. This also takes into account paying SS withholdings again as well
Taxes went down for me, despite a small raise. I maxed out my FSA this year in an attempt to prepare for any potential health problems my wife may have. And upped my 401k contribution by a percentage point.
SS went up, but to be honest it had to go back up. We need to uncap the tax and that should handle our problems.
Forty bucks a pay period max due to the tax holiday season ending...less than 20 bucks if you make 50k...still a ton of money when it comes from a 100 million plus workers...
The following users like this post: Aurora
We don't need to uncap the tax though the limit does need to be raised somewhat...
My raise essentially offset my tax increase. My net pay went down $8.
We all got straight across the board raises in my department due to a great year of productivity. This isn't a part of our annual individual raises.
We now all bring home about five or six percent less than we did last year.
I LOVE WORKING HARDER FOR OTHER PEOPLE TO ENJOY IT!!!
The following users like this post: jdmt37
Happy Tuesday.
Thanks accoustic, yo da best homey
Last edited by OrangeBlossom; 01-15-2013 at 09:28 AM.
4 users like land burglar73507's post: AcousticSoup, Clark W. Griswold, pphilfran, SMC
I don't pay into Social Security...or Medicare.
Well...not my main job.
No raise and a bit more out of my check
In before dome?
Sent from my iPhone using Tapatalk
Since PBS is banned...
HOPE AND CHANGE!
typically, most here either make a ****load or are lying. and need to read up on payroll taxes.
2 users like SoonerinBoulder's post: OnlyOneOklahoma, suncoastsooner
Probably a combination of both. Day laborers don't have time to **** up the internet all day.
Orange, why does this show to be edited? It shouldn't have been hotlinked since I used an image post. Just wondering, not ****ing.
Thanks accoustic, yo da best homey
how many posts have you made today Brooks Brother?
A handful. Waiting on feedback from a customer sucks.
You are funny.
It didn't affect me at all. My wife and I are independent contractors and we are incorporated. The Corp pays us a salary.....We never took the 2% payroll tax cut in the first place, so we don't have to give it back.Did you get hit hard by the expiration of the payroll tax holiday/increase in withholding?
I did. 9% decrease in take home pay.
Yes, we gave extra money to the government...............I'm sure it bought some nice cell phones.....
The only change in my first pay check was the increase in FICA/SS back to 6.2%. No one really should have seen their payroll taxes change. The IRS sent out revised tables after the fiscal cliff deal. Unless you make more than $400,000 your payroll taxes should be unchanged.
Why's that?
Just your ironic nature I guess.
I love to see 24 year old entry level professionals that overdress call people mouth breathers for their internet posting, by posting on the internet.
In all fairness, where the hell else is a 24 year old supposed to be besides entry level?
HE HAS DREAMS!!!
Balls deep in some ****es ****, drunk and avoiding starting their career, because they aren't ready to be an adult.
The following users like this post: Saul Good
Man, I was 24 for a very long time.
2 users like Mississippi Sooner's post: Saul Good, SoonerBounce
Take home pay after first pay period of the year was about $60 lighter. So I'm getting $120 less a month. My SEP contributions won't be affected, but this still blows
My wife's was $106 less, I haven't received my check yet.
The wife and I have lost roughly the equivalent of one of our car payments a month fromour take home.
it isn't extra money.... it shifted sides from employer to employee
(at least that is what i was told by a lady at work, i haven't researched it myself)
While it won't make any difference to us in our daily spending, it's still a kick in the nuts and that much less ill be putting in savings each month.
I hope that is a Hyundai sized payment and not a Range Rover Lease sized payment
It is a highlander sized payment (somewhere in the middle)
I will decrease my gift giving accordingly , however it was very small amount I am missing. More for my fella but he makes a bit more than I do.
But he was told it was a "smart buy".
The employer always paid the same, no increase to them...the 2% cut to employees was made up by the government so the overall funding stayed the same....
don't be poor....
3 users like SoonerArtillery's post: Aurora, jdmt37, SoCaliSooner
cool that really makes more sense and the person that told me is kinda an idiot
on another note, have any of you played with your tax return? chances are, you are not going to be happy.
Why? Nothing changed.cool that really makes more sense and the person that told me is kinda an idiot
on another note, have any of you played with your tax return? chances are, you are not going to be happy.
so far, everyone i have played with either owe more than last year or they are getting back less....and there hasn't been a change in their situation
i haven't seen the tax liability chart for this 2012 to compare it to 2011...but i'll look into it
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