Tax increase ??

[cody's guide]

I was looking at my pay stubs here late. I noticed there is a $289 difference every two weeks just in taxes alone. this means my check is $578 less per month just in taxes.. serioulsy !!!
is there any changes I can make to reduce? advise needed..

[4dawgma]

Make less money....

[JaMak84]

This went into effect back in January and you're just now noticing? Just your ss taxes returning back to their original rates.

http://www.ducksouth.com/phpbb/viewtopi ... l+Security

[MemphisStockBroker]

That's just your withholding for taxes. It is not what you actually owe...

and yep, it went up. 'only for the rich'.... yeah, right

[ACEINTHEHOLE]

Well, you undoubtably make more than 250,000 a year since those are the only people who will pay more taxes.......

[Drakeshead]

Yep, the income tax relief that the Bush admistration put into affect during his first term, I think. It was allowed to expired January 1, 2013. This affects everyone with a paycheck.

End of Bush Tax Cuts Will Affect All Demographics, Income Earners

If the Bush tax cuts expire on Jan. 1st, individuals of all demographics and income brackets will experience tax increases, according to a June report from the conservative Heritage Foundation.

“On January 1st, 2013 a $494 billion wave of tax hikes will take effect, hitting every American household, regardless of income,” according to a Heritage infographic from June 11th.

Currently, House Speaker John Boehner and President Obama are in talks to avert the ‘fiscal cliff’ when Bush tax cuts expire and sequestration takes effect.

On Thursday, the House failed to pass Boehner’s “Plan B” proposal, which would have increased tax rates on all those making $1 million or more.

Heritage utilized Census and IRS data to determine tax increases if Congress lets the Bush tax cuts expire, compared with what individuals are currently paying.

In a report entitled “The Cost of Taxmageddon: Impact by State and Congressional District,” author William W. Beach broke down the dollar amount of taxes citizens in each state and congressional district will have to pay.

Of the 50 states, California will experience the largest tax hike, at $61,852,511,863.

Researchers provided tax figures for 5 different groups: families, baby boomers, low-income workers, millennials and retirees.

Here are the tax increase dollar amounts for each group:

Families, Average Income $70,662: $4,138 tax increase.

Baby Boomers, Average Income $95,099: $4,223 tax increase

Low Income Workers, Average Income $24,757: $1,207 tax increase

Millennials, Average Income $23,917: $1,099 tax increase

Retirees, Average Income $42,553: $857 tax increase

[MemphisStockBroker]

Hope and Change.... he told the American people what was coming. folks just didnt listen.

How would you like to be Phil Mickelson, and pay more than $30,000,000 per year in taxes

http://money.cnn.com/2013/01/23/news/ec ... index.html

[Ster]

You can always quit working, and line up for a government check. Why work when you can get some money for nothing?

[fireplug]

You can always quit working, and line up for a government check. Why work when you can get some money for nothing?

Wrong color. Only works for people of color or I woulda signed up years ago.

[Smoke68]

Well, you undoubtably make more than 250,000 a year since those are the only people who will pay more taxes.......

If my calculations are right, he makes a good bit more than 250,000 per year.

[Deltaquack]

It's not just your SS taxes returning to original rates. There's a 3.8% here and a 4 % there. I see at least 10% by my calculations.

[Blake Williamson]

LOL Check out your insurance.... If it's like mine with the increase in insurance and taxes I could've went down to the Ford place down here and took up the payment on a new King Ranch F250......

[MemphisStockBroker]

its not just the increase in rates, its the decrease in deductions and credits...

Tax time next year, folks are going to be in for a shock.

[Deltaquack]

LOL Check out your insurance.... If it's like mine with the increase in insurance and taxes I could've went down to the Ford place down here and took up the payment on a new King Ranch F250......

No doubt about it.......it's more cuts than my current truck payment

[Deltaquack]

its not just the increase in rates, its the decrease in deductions and credits...

Tax time next year, folks are going to be in for a shock.

Only good thing I see is the 179 going to 500K