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  • longbow

    Grandmaster
    Rating - 100%
    3   0   0
    Apr 2, 2008
    6,900
    63
    south central IN
    Take a look at you current paycheck and your last 2012 check.

    Work has sent out some warnings on the changes and a stub out early for us to enjoy.

    The man is cutting into my ammo and gun purchases.......
     

    lucky4034

    Master
    Rating - 100%
    13   0   0
    Jan 14, 2012
    3,789
    48
    Its only the first check isn't it?... (unless you are part of the 1%) The rest will go back to standard robbery rates correct?
     

    buckstopshere

    Master
    Rating - 100%
    93   0   0
    Jan 18, 2010
    3,693
    48
    Greenwood
    Its only the first check isn't it?... (unless you are part of the 1%) The rest will go back to standard robbery rates correct?

    Not sure if serious??

    No, this will be ongoing. It's a 2% hike in social security. It's about $50 a week for me for something I will never get or want when I'm 65.
     

    Donnelly

    Master
    Rating - 100%
    2   0   0
    May 22, 2008
    1,633
    38
    Cass County
    Its only the first check isn't it?... (unless you are part of the 1%) The rest will go back to standard robbery rates correct?


    Nope. In passing the fiscal cliff bill, Congress seems to have left out the part keeping the FICA tax rate at 4.2%, so it has now raised back to 6.2% of your gross pay.
     

    Classic

    Master
    Rating - 0%
    0   1   0
    Aug 28, 2011
    3,420
    38
    Madison County
    It's supposed to average around $1500 for the year on average. Some people actually bought into the lawyerspeak from Obozo about not raising taxes on the middle class and only sticking it to the "rich". Joke's on you! He said he wouldn't raise INCOME taxes on the middle class. What you are looking at is an effective PAYROLL tax increase.
     

    Classic

    Master
    Rating - 0%
    0   1   0
    Aug 28, 2011
    3,420
    38
    Madison County
    BTW - If you took 100% of the earnings from the top 1% it would run the Fed for about a month. The so-called middle class is a much bigger pot to draw from because there are so many more incomes there. If you believe taxing the "rich" or taxing corporations is going to fix anything you must be smoking some real good sh*t.
     

    indykid

    Grandmaster
    Rating - 100%
    4   0   0
    Jan 27, 2008
    11,878
    113
    Westfield
    If your company provides heath care, and you have to pay a part of it, wait until the new insurance rates charged trickle down into your pay check.
     

    longbow

    Grandmaster
    Rating - 100%
    3   0   0
    Apr 2, 2008
    6,900
    63
    south central IN
    I get a double whammy on Friday.

    The higher taxes from payroll the personal use of the company car goes up. Some bean counter thinks I should now pay $178 per month for having a company car. They say the company cars are now looked at by the irs in a different light.

    This is going to force more companies to charge employees for having a company car.

    Basically, they are taking back the IRS mileage rate for the number of miles they think I should use the car. That $178 dollars means I get to have 500 miles per month or so of personal use.
     

    Slapstick

    Master
    Rating - 0%
    0   0   0
    Jul 29, 2010
    4,221
    149
    I talked with a rep at my works HR department today concerning the my paycheck having more Federal withhold taken out than my lst check. I was aware of the 2% increase in SS taxes but the Federal Withhold tax. Anyway to make a long story short my worked screwed me a little on the Fed withholding's for this paycheck.

    She then said that they just got in the new Federal withholding rates for 2013 and there is an increase coming in February on the amount employers are to withhold for the Feds. Why, I don't know if they tax rate is to stay the same then why raise withholding's? :dunno: On the other hand once they get your money why not raise your taxes since they already have it?
     

    Indy60

    Expert
    Rating - 100%
    7   0   0
    Nov 10, 2012
    848
    18
    Central IN
    Starting this month I have to fork over a new Fed excise tax of 2.3% on every dollar I generate in my business. Not happy about the extra accounting costs in addition to the tax. More quarterly returns I have to pay my accountant to file and the tax on top of that. It all adds up.
     
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