Did a tax break just expire? [Archive] - Glock Talk

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nam02G
11-09-2012, 10:20
I just got paid and noticed that my take home pay was about $60 less than last pay period. I'm on an every two week pay basis so each pay period is 80 hours. I compared pay statements and the Federal withholding increased by $50 and the Fed MED/EE and OASDI/EE both went up a couple dollars. Last December when one of the "Bush tax breaks" was set to expire there was a great deal of hoopla about it. If anything was said this time it was buried beneat the manure pile of campaign commercials.

AtlantaR6
11-09-2012, 10:22
Do you have a payroll department you can ask?

nam02G
11-09-2012, 10:29
Do you have a payroll department you can ask?

I emailed them. No idea how long it will take to get a reply.

JMS
11-09-2012, 10:31
There shouldn't be any changes yet.
http://www.clientwhys.com/blog/tax-professionals-prepare-for-expiring-tax-breaks-in-2013/

sheriff733
11-09-2012, 11:02
I just got paid and noticed that my take home pay was about $60 less than last pay period. I'm on an every two week pay basis so each pay period is 80 hours. I compared pay statements and the Federal withholding increased by $50 and the Fed MED/EE and OASDI/EE both went up a couple dollars. Last December when one of the "Bush tax breaks" was set to expire there was a great deal of hoopla about it. If anything was said this time it was buried beneat the manure pile of campaign commercials.

I wouldn't worry about it. Just a little "flexibility."

VC-Racing
11-09-2012, 12:36
I was asked that same question this AM by a good friend of mine. He got hit for $550 on a $1400 paycheck. I told him not that I was aware, but I'd call his boss .

nam02G
11-09-2012, 12:40
I was asked that same question this AM by a good friend of mine. He got hit for $550 on a $1400 paycheck. I told him not that I was aware, but I'd call his boss .

Dang, that's way more of a hit than I took.

VC-Racing
11-09-2012, 13:02
Yeah, I thought it was a bit much too. He's gonna call me when he gets a answer. I know once you break the $1000 mark, uncle o sama gets a bigger chunk.

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BamaBud
11-09-2012, 14:08
This is just the beginning. Osama and Pelosi timed the increases to start AFTER the election.

Just wait until 2013, when the Obamacare hikes start to kick in!

My accountant sent a list of all the tax hikes that will apply in 2013. It's sickening.

BEANCOUNTER
11-09-2012, 14:25
I just got paid and noticed that my take home pay was about $60 less than last pay period. I'm on an every two week pay basis so each pay period is 80 hours. I compared pay statements and the Federal withholding increased by $50 and the Fed MED/EE and OASDI/EE both went up a couple dollars. Last December when one of the "Bush tax breaks" was set to expire there was a great deal of hoopla about it. If anything was said this time it was buried beneat the manure pile of campaign commercials.

Does your employer deduct for health insurance? If so, see if that went up from your last check too.

Jeremy_K
11-09-2012, 14:57
I know the Fed employee healthcare is going up. One of the local ones here is a $60 per pay period increase. I have Blue Cross/ Blue Shield and it only went up a few bucks this year. This is the largest increase I've seen. I don't know for sure if it's because of Obamacare.

JMS
11-09-2012, 15:03
I know the Fed employee healthcare is going up. One of the local ones here is a $60 per pay period increase. I have Blue Cross/ Blue Shield and it only went up a few bucks this year. This is the largest increase I've seen. I don't know for sure if it's because of Obamacare.

It's consistently gone up year after year.

nam02G
11-09-2012, 15:19
I got a reply back from the payroll department. I didn't expect to get one so soon. A couple weeks ago I was given what amounts to a bonus for doing a good job. It was all of $200, I was taxed on it since it was taxable income. So after taxes my $200 bonus amounts to $135 as my pay is almost exactly $65 less than normal. Maybe I'll get some of that back come time to file my return.

Cmacc
11-09-2012, 15:45
I think bonuses are taxed differently than regular wages (higher rate), I don't think your getting it back.

Booker
11-09-2012, 16:05
No worries, Uncle Obama is only "going to ask" you to pay a little more!

Chuck TX
11-09-2012, 16:33
Yeah, a whole lot did last Tuesday.

Free stuff doesn't buy itself.