I just received my first check that reflects the new federal withholding rates. There's an extra $90 in it. That works out to $2,340 over a year of post-tax money. Certainly not life changing, but is nice. Has anyone else seen their change yet?
I just received my first check that reflects the new federal withholding rates. There's an extra $90 in it. That works out to $2,340 over a year of post-tax money. Certainly not life changing, but is nice. Has anyone else seen their change yet?
Mine went up $70. Pretty nice I suppose.
$75
BUT the health insurance cost increase more than swallowed it.
2018 < 2017
Take home went up a bunch. They probably aren't withholding enough...trying to make people like the tax cut (and eventual increase).
flagpolestaxes wrote:
Take home went up a bunch. They probably aren't withholding enough...trying to make people like the tax cut (and eventual increase).
That's exactly correct. They are just the new withholding amounts on the charts and although they are an estimate of the new taxes the only thing it takes into account is your exemption claim. Talk to me at the end of the year.
less than $100 for a month.
Am I right in believing that this increase is completely independent from the amount that I choose to withhold? Or, will I pay fewer taxes / be owed a bigger refund in April?
$190 per month. Going to put it into 401k
And tuition is raised at the college I'm paying, as of next week. Eff a tax "cut," I need reduced cost in real stuff.
This is just blowing smoke.
Zilch.
Between my annual 1% increase from the president and insurance increase I actually went down a few bucks..
Typical we get COLA and then health care rises that exact amount.
My biweekly paycheck went up $113, my wife's (part-time) went up $74. That's $4,800 a year.
Although Nancy Pelosi, nontrumper and Fagpole would call them "crumbs."
An extra $373/month is a nice bump for a middle class family of 4. All of you democrats who were so vehemently opposed to this can kiss my a$$.
Mine went up an extra $80. I'm taking the wife out to dinner a couple of extra times a month and let that tax savings trickle on down through the economy.
See! That's how it works.
$138 bi weekly. $3,312 a year. The partners at my firm are getting a pretty huge cut because they have a pass through entity. One partner said he will be able to pay his kid's private college tuition bill this year with his tax cut. It is pretty shocking to compare the current tax rates for people making $300k plus with some investment income to what it was under previous administrations. It is a shift in the tens of thousands.
$247.84 for a total of $6443 for the year for my base salary. My bonus will be more than my base, so lets say a total $14K total for the year. My wife makes a little less than half what I do. So for the household, about an extra $20K post tax.
100% will go into index funds.
My net went up a little over $100, or about $220/month rate.
But I really don't know how it will shake out when I file next year. Will I owe more than usual, etc.
How will the reduced state and local tax deduction affect me.
I may change my exemption to take out more.
You can pay a penalty if enough is not taken out.
I just checked my pay stub for spring teaching and they paid me three times what I'm owed on accident, so I'd say I'm doing pretty well.
Personal: negligible
My corporate business taxes: Massive saving. Literally tens of thousands of dollars.
Thanks toTrump and you working Chumps for this beautiful gift that just increased the value of my company! I planned on selling in a few years and this may accelerate my retirement plans so I can cash out early.
And no, I haven’t increased my total payroll to my employees.
Virtually unchanged. Take home (monthly) actually down ~$100, but I also moved myself and kids onto my health plan (had been on my wife's) for 113/mo, so - yeah. Unchanged.
Corporate FTW wrote:
Personal: negligible
My corporate business taxes: Massive saving. Literally tens of thousands of dollars.
Thanks toTrump and you working Chumps for this beautiful gift that just increased the value of my company! I planned on selling in a few years and this may accelerate my retirement plans so I can cash out early.
And no, I haven’t increased my total payroll to my employees.
You should cause those tax breaks shoot up in a few years...
When those come back youre going to hear the massive outrage..
Thank you POTUS! wrote:
My biweekly paycheck went up $113, my wife's (part-time) went up $74. That's $4,800 a year.
Although Nancy Pelosi, nontrumper and Fagpole would call them "crumbs."
An extra $373/month is a nice bump for a middle class family of 4. All of you democrats who were so vehemently opposed to this can kiss my a$$.
Please remember libertarians and true fiscal conservatives were opposed as well. Short term gains are a great way to win over the imbeciles who can't see the bigger picture.
The tax forecast went down significantly for the company I own. Passed it down to my employees (plus their personal taxes are lower).
They called it Christmas in January. (I give the Christmas bonuses too).