Beware your first 2013 paycheck

[Juiced4v]

Havent seen mine yet!

[Sgt Beavis]

I'll be hit with the maximum on the payroll tax. Fortunately (or unfortunately) I got a pay raise that pretty much covers the increase. My company also increased their contribution for my medical insurance so that there is no increase on my end..

On the flip side, HP is still working through laying off 27000 employees. It is unlikely I'll be cut, because of all the revenue I pull in, but you never know.

[SEB]

The benfits of working for yourself, But shit is getting outta of control with Taxes in this country & im not just referring to the Federal Goverment Tax increases, They are increasing Taxes on Property Tax in Rockwall & im sure its just a matter of time before they try & bring in state tax here in Texas. They are going to tax this country right in to the ground

[pr1042]

100 bucks less for me, could have bought a pmag wih that

[8mpg]

SS withholding phased out last year at $90K. Meaning that once you eclipsed the $90K mark in annual income, they stopped withholding. For most DFWM members, that was probably sometime in Feb 12, so you've probably gotten used to a larger check.

not according to my checkstub

[Chopped54]

My paycheck was $600 less.... WTF!

You either didnt work a full 40/80 or you pull over a million a year!

[Sean88gt]

This should cause a boom in the economy!

[slow99]

This thread is gold, lmfao!

[Roscoe]

SS withholding phased out last year at $90K. Meaning that once you eclipsed the $90K mark in annual income, they stopped withholding. For most DFWM members, that was probably sometime in Feb 12, so you've probably gotten used to a larger check.

For 2012, the maximum taxable earnings amount for Social Security (OASDI) taxes is $110,100. There is no limitation on taxable earnings for Medicare's Hospital Insurance (HI) taxes.

[mustangguy289]

You either didnt work a full 40/80 or you pull over a million a year!

Welll.... I was here for the full 40/80.

[fordracing19]

Damn, how much is your house payment, $400????

I was talking per year.

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[fordracing19]

Well if her math is anything like yours I hope you have someone else go over it!

Mr I have the biggest lot in the sub division. Not hard with the smallest house!

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[red95gts]

For 2012, the maximum taxable earnings amount for Social Security (OASDI) taxes is $110,100. There is no limitation on taxable earnings for Medicare's Hospital Insurance (HI) taxes.

Thanks. Not sure where I got the $90K number from. Either way, my first check was about $350 lower than I expected, but moreso because OASDI withholding started again, not because of the 2% bump in SS withholding.

[Trick Pony]

Are all of you just looking at the difference in your take home pay, or are you taking into account increases in the cost of benefits, etc, when you say your tax liability increased by such and such? I know my health benefits went up this year.

[PandaBear]

I just noticed I received a $150 raise but only got about $57 more.
My SS contribution almost doubled.

It's better than nothing, I guess.