Got my new paycheck today with new withholding.

[Texacon]

https://www.democraticunderground.com/100210174570

fescuerescue (359 posts)


Got my new paycheck today with new withholding.

Last edited Thu Feb 1, 2018, 02:02 PM - Edit history (1)

My withholding went to $399.26 (weekly) from $466.50 . (paid weekly)

What a pittance. I get a whole $67, while billionaires get millions.

Thanks for the crumbs!

yallerdawg (13,524 posts)

20. What if the employee wants to have more withheld?

And how sure should the employee be that enough is being withheld so there is no tax due next year?

Or the tax return remains as anticipated?

marylandblue (3,290 posts)

29. You need to figure that out yourself

I read somewhere they deliberately reduced the witholding amount too much, so you get more now and pay later. So you need to estimate your tax now and if they aren't witholding enough, fill out a new w-4 including additional witholding. Most people won't bother with this but the bill won't be due until after the election. What a crock!

B2G (8,772 posts)

31. That's not the way this works.

Withholding is based strictly on the tax tables. The same one used to calculate your taxes.

It's not padded. You can only effect the amount withheld based on the deductions stated in your W4.

marylandblue (3,290 posts)

40. There's a line on the w-4 for "additional witholding"

If, for whatever reason you want them to withold more than your deductions allow.

B2G (8,772 posts)

42. I know that.

But withholding amounts are not 'padded' by the government to trick you into getting a bigger pay check and paying more when you file, which is what you stated.

That is completely within your control with your W4 deductions.

marylandblue (3,290 posts)

43. I read that they padded it somehow this time

And it may be true in my case. I got a huge bump in my take home pay, I was really surprised because it should not have been that much. Now I need go figure out if it's right or not.

yallerdawg (13,524 posts)

49. They cut deductions on the back end, too.

What I heard was it will come clear when the 2018 tax books come out. In 2019.

And yet, not one person has asked for a source or where they MIGHT have read it ...

imanamerican63 (4,096 posts)

3. That my very point!

We see pennies added & all the while the record million dollars profits!   

See, there you go again.  You can't be happy for your misery.  What causes your misery?  Jealousy.  Just be happy that your president thinks enough about you to let you keep more of your money than that last president did.

NCTraveler (25,718 posts)

4. Those aren't crumbs.

That's real money. A pretty big deal. Calling it crumbs is a pretty poor strategy.

I understand a little better considering your WITHHOLDING alone was $466.50/week. I assume you mean Federal Withholding. Wow. Solid pay.

Ooops, careful what you say there NCT.  I don't care if you have 25k posts, you stray too far from the narrative that all things Trump are bad and they'll ban your ass.

lapfog_1 (17,959 posts)

23. works out to $3,474 a year

not crumbs to anyone... but the OP is also correct... not life-changing either.

I would be very careful with that $67 a week as I suspect the withholding calculation is possibly inaccurate and I would hate to owe money in April 2019.

The other things to think about is what will increase as a result of this tax cut. For example, if you live in one of the states with significant state and local taxes and you are used to deducting those taxes on your federal return, you might not even be getting any sort of tax break.


I'm going to guess but if my math isn't way off the OP makes around $80,000 a year. $3,474 is a 4% tax break. Certainly not millions, but not chump change.

Before we all get excited about that 3 or 4 percent tax break, remember what we are losing as a society ( education environment infrastructure social services etc )

Also remember that the government is having to BORROW more money ( yet to be determined how much but the LOW end is $1.5T ) just to fund the things they haven't cut AND they have more spending bills coming to increase military spending. That much borrowing will impact the cost of money for all of us, even those who don't borrow money because we buy things and the companies who make those things DO borrow money so the increased cost of money will factor into the prices we pay.

Economic modeling is very difficult. Monkeying around with tax policy and trade policy and we will see all kinds of unintended consequences.

On and on it goes.  They're starting to see the money.  REAL money, and it is scaring the shit out of them.  After all those months of telling everyone it was just for the wealthy, now they have a problem.  Everyone knows they lied!  Now they have to figure out how to spin it ...

 

There is lots more over there, enjoy!

KC

[FiddyBeowulf]

The same people saying $60 a week is no big deal were saying $20 a month for birth control pills would bankrupt some people.

[landofconfusion80]

The same people saying $60 a week is no big deal were saying $20 a month for birth control pills would bankrupt some people.

I dunno about you, but I can turn 240 bucks a month into some serious investments, real estate, retirement or otherwise

[Old n Grumpy]

Hey asshole, just think of how many pounds of sour grapes $240.. a month will get you.

With $240 a month I could get over 15,000 rounds of ammo in a year.

They are trying to convince each other it is a scam and they will have to give back double or some other bull shit.

As far as the SALT deduction loss you need to get better local politicians who won't be so ready to piss away all your $$$$$

[SVPete]

So an extra $3500 a year is a "pittance"? "Crumbs"? DU-moron "fescuerescue" pays thousands in taxes, so his reduction is thousands rather than millions. The "billionaires" (s)he despises pay hundreds of millions or billions in taxes, so their reduction is millions rather than thousands. The reduction is in proportion to taxes paid, not DU-moron "fescuerescue"'s hatred and envy.

[DLR Pyro]

fescuerescue (359 posts)


Got my new paycheck today with new withholding.

Last edited Thu Feb 1, 2018, 02:02 PM - Edit history (1)

My withholding went to $399.26 (weekly) from $466.50 . (paid weekly)

What a pittance. I get a whole $67, while billionaires get millions.

Thanks for the crumbs!

Then give it to me, you whiny little bitch.  What you refer to as "crumbs" equates annually to almost 2 1/2 mortgage payments for me.

[Carl]

Please let dumbocrats run on a message of telling everyone how miserable they really should be.

[Fourwinds]

I dunno about you, but I can turn 240 bucks a month into some serious investments, real estate, retirement or otherwise

I've actually been thinking about this recently. I'm starting to look into things because I have no idea how to invest money. I'm a wage worker. It would be nice to have something other than a 401k if I get too old to work.

[zeitgeist]

Best guess?  Lawnboy makes about $12.50 / hr  mowing lawns.  Works for someone who owns the equipment.  Owner uses something like Quick Books to run the business payroll and do billing.

[landofconfusion80]

I've actually been thinking about this recently. I'm starting to look into things because I have no idea how to invest money. I'm a wage worker. It would be nice to have something other than a 401k if I get too old to work.

I'm no pro, but my broker kicked me off saying I could do what she does. Feel free to shoot me a message if you want. (I know, random guy on the internet giving financial advice...but I love it and it doesn't cost anything)

[I_B_Perky]

The OP could be a mole.  Brags about how much it pays in taxes... pretty much easy to figure out from that what it grosses a year... and then complains it ain't like the tax breaks of the millionares.  If it is a mole, it is pretty darn effective.

The same people saying $60 a week is no big deal were saying $20 a month for birth control pills would bankrupt some people.

H5!!!!  I remember them whining and moaning about that.   

I've actually been thinking about this recently. I'm starting to look into things because I have no idea how to invest money. I'm a wage worker. It would be nice to have something other than a 401k if I get too old to work.

The quick and easy way is to invest indexed mutual funds on a monthly basis.... especially if you are fairly young.

[docstew]

The same people saying $60 a week is no big deal were saying $20 a month for birth control pills would bankrupt some people.

Or said in 2008 that $40 every two weeks in payroll taxes would be extremely helpful to the average American.

[USA4ME]

That's a whole lot of stupid in one thread.

Claiming the IRS intentionally rigged the withholding so an employee would receive more money than they should in order to boost Trump? The same IRS that wouldn't give non-profit status to tea party organizations? Ok, whatevars!

Listing all the stupid would take too much time.

.

[DUmpsterDiver]

fescuerescue  is my new hero in the battle of the Cereal Killers (that make their Vegan gruel) and practical Humans.  Like dropping a bass note that evaporates idiocy like a simile keeps it real.

Hope and feces in the hand are worth more than exponential equations in the bushes.

[landofconfusion80]

The quick and easy way is to invest indexed mutual funds on a monthly basis.... especially if you are fairly young.

Not so much anymore. Indexed ETFs can accomplish the same or better without the exorbitant fees of a loaded mutual fund. Really really REALLY basic investing is finding an S&P indexed ETF, contributing to it monthly and build it til the dividends support your end goals and ignore it even more knowing that you're averaging a 10% annual return

[Karin]

Small correction, the birth control, Orthonovum, is $10 per month.

Too funny, they get all confused about the difference between "withholding" and a "paycheck." 

Response to lapfog_1 (Reply #23)
Thu Feb 1, 2018, 01:04 PM
LeftInTX (7,818 posts)
24. If the OP is earning about $15/hour it sure is!

It means an increase of about 14%.

However, the OP is not specific enough.

A paycheck of $466 is equivalent to about $15/hour

The OP is too vague.

Response to mindem (Reply #32)
Thu Feb 1, 2018, 01:19 PM
LeftInTX (7,818 posts)
38. He said his withholding went from $399 to $466

If this is the case, his withholding increased.

Then, he says his paycheck increased by $67.

The OP...is too, too vague

Reading comprehension.

Response to NCTraveler (Reply #4)
Thu Feb 1, 2018, 01:45 PM
 sinkingfeeling (34,882 posts)
60. I get to pay $1000 a year more on my FIXED income of Social Security and

pension with the elimination of personal deduction and caps on local/property taxes.

Do you really have over $10K in SALT?  Doubt it highly. 

If you are living only on SS, how do you pay those whopping property tax bills? 

Response to DeminPennswoods (Reply #78)
Thu Feb 1, 2018, 02:15 PM
 sinkingfeeling (34,882 posts)
80. As a single person, why would I want to take a standard deduction of $12,000

when my itemized deductions exceed $18,000? So I lost the $4050 personal exemption and my state/local taxes are capped to $10,000.

If she is so poor, on SS, how is she paying those bills?

Response to fescuerescue (Original post)
Thu Feb 1, 2018, 12:35 PM
 gopiscrap (16,874 posts)
12. lucky you, we get 64.82 extra per month

but deduct an extra 41.00 in additional health insurance premiums and an additional 9.08 in condo real estate tax per month and an extra 2.00 per month in condo insurance and an extra 7.50 in condo fees per month...so I made a whopping $5.32 per month

   Trump's fault!!!!  DUmbass.

****wit, you should see the property tax increases I'm faced with.  They don't bother with the additional 8 cents. 

[Old n Grumpy]

marylandblue (3,290 posts)

43. I read that they padded it somehow this time

And it may be true in my case. I got a huge bump in my take home pay, I was really surprised because it should not have been that much. Now I need go figure out if it's right or not.

That bump is your severance pay. read the pink slip that came with your check.

[BadCat]

NCTraveler is a lying son/daughter of a bitch.
Taxes ain't that high in NC.

[Carl]

They lie,all the time they lie.

[DumbAss Tanker]

Ya know, if a guy making thousands get hundreds, it would only be natural for a guy making millions to make thousands, in any across-the-board rate reduction.  It's not biased in favor of the millionaire, it's just not biased against him.

Although in the case of the DUmmies, we're really talking 'Hundredaires.'

[67 Rover]

I am absolutely thrilled with my first paycheck reflecting the new Fed tax rate!
Also these added benefits listed below were announced this morning by the CEO and CFO.

1. Company has absorbed the large increase in our 2018 health benefits as "a direct result of the new corporate tax rate" . Our rates will remain the same as last year, first time since 2013 that I have not had large double digit increases.
2. Bonuses and raises! Size to be determined and distributed in March after our reviews and goal setting "as a direct result in the new corporate tax rate".
3. Larger paycheck and not crumbs by any means. 

Winning!

[Skul]

New + Rope = Whiny DUmmies   

[BlueStateSaint]

NCTraveler is a lying son/daughter of a bitch.
Taxes ain't that high in NC.

Hell, that's one of the reasons my in-laws moved down there from NYS!

[Texacon]

I am absolutely thrilled with my first paycheck reflecting the new Fed tax rate!
Also these added benefits listed below were announced this morning by the CEO and CFO.

1. Company has absorbed the large increase in our 2018 health benefits as "a direct result of the new corporate tax rate" . Our rates will remain the same as last year, first time since 2013 that I have not had large double digit increases.
2. Bonuses and raises! Size to be determined and distributed in March after our reviews and goal setting "as a direct result in the new corporate tax rate".
3. Larger paycheck and not crumbs by any means. 

Winning!

As stories like yours roll in the DUmmies are going to start having strokes. They know they’ll never be able to spin it hard enough to convince middle class folks that getting to keep more of what you earned is a bad thing. And those stories will be all over starting this month. Winning indeed!

KC

[DLR Pyro]

I am absolutely thrilled with my first paycheck reflecting the new Fed tax rate!
Also these added benefits listed below were announced this morning by the CEO and CFO.

1. Company has absorbed the large increase in our 2018 health benefits as "a direct result of the new corporate tax rate" . Our rates will remain the same as last year, first time since 2013 that I have not had large double digit increases.
2. Bonuses and raises! Size to be determined and distributed in March after our reviews and goal setting "as a direct result in the new corporate tax rate".
3. Larger paycheck and not crumbs by any means. 

Winning!

winning to you maybe, but to the average DUmmy who is on the dole and doesn't get a tax cut, it just isn't fair....