Yesterday was my first paycheck for 2011. I know FICA was supposed to go down by 2%, HOWEVER, I did not know that Federal was going up. Did anyone notice
a larger amount of federal taken out of their paycheck? I pulled out another paycheck with the same amount of hours from the fall and compared federal amounts. This check had $18.00 more taken out. I only work part time and do not earn a lot of money. I am a food service worker in the school district. Lowest paid unit in the district and we work darn hard. If anyone knows which site I can get any info on I would appreciate it. I like to be up to date on all this stuff and do not like surprises. The only good thing is my union dues did not go up this year. We pay a lot and do not even get health benefits. Just had to vent. Barbara
1|1|Haven't got my first check (I get paid every two weeks)|kellysp6637|frugalk76@aol.com|08:08:04|01/08/2011|
but seriously.....it's going to be SAD when I do get it........
I work full time......and carry my family's health insurance......it went up $77....so I'll have an additional $77 missing...plus anything else that has gone up.....it's ridiculously sad...
I swear....when is it going to end????? How much more can the government take before people look at their check, throw up their hands and say "What's the point anymore?".....
By the time, taxes are take out, social security (which I'm QUITE sure I'll never benefit from), my personal retirement (which I have taken out), insurance, my paycheck is reduced by over $650......then I have to pay afterschool daycare costs....so after that, I have to take $200 from that for daycare costs.....it's just ridiculous....
At some point, the entitlement programs are going to HAVE to be reduced......there's only about 60% of Americans working and PAYING taxes.....this means, that 60% of Americans are supporting 100% of the entitlement programs......and it's simply not sustainable.....I wonder when the genius' in Washington are going to figure that out?????? 6|2|Ok...my 2 cents inside on this..|Skaytes|skaytez@gmail.com|10:35:09|01/08/2011|
I think first off if we stop supporting the illegal aliens (from all countries) that would save a bundle as well as get those off the system that know how to 'work' the system. I am talking those that are able to work but just flat out don't want to..that it's been their parents (possibly) living off the systems, themselves, their children..just keeps going generation after generation type of thing.
The fat cats in DC need to have to live on "our" income for a year...see how THEY could do it. No perks either and they should not only have Social Security (as most people do at this point) for their retirement income. If they had to live on what we all live on in our financial situtations things would change in a heart beat. Also ...past presidents..after one year out of office don't need a lot of security guards and perks. They did when they served but why after they are out after a year?
Also why does the Presidents wife (any president not just current) need all those assistants? Have you seen the LONG list of those people who are employed for her? Ridiculous. Am sure there are many other areas like that that can be cut. Stop cutting those services for those who NEED them and make those who are getting them and DON'T truly need them get cut.
I am not a political person but really wish everyone would have voted out the people who had been in office a long time..especially those in 'power' positions. Barring tossing everyone out and putting new laws/gov't in place at least it would have been a starting point to break up the 'good ol' boys' club on Capital Hill. Ohh..and lets make lobbying and adding bills on to bills trying to be passed illegal.(Think it's called porkbelly..but again am not very political savvy on this stuff). Time to stop the 'you scratch my back, I'll scratch yours' type of thing and work FOR the people like the job was originally intended.
I can go on and on..such waste in our gov't and no one is stepping up to the plate to stop it...and they wonder why the ecomony is the pits. Things that make you go "hmmmmm..." huh? *shaking head* Sorry for the rant but just drives me nuts.. 2|1|fed rates did go up|mrssnape1|mrssnape1@yahoo.com|08:25:06|01/08/2011|
look through the eyes of a child and you'll never grow old
please leave feedback if we have traded
http://www.refundsweepers.com/dcforum/feedback/1184.html 3|1|federal tax|2597grandma|hbs4470@optonline.net|08:37:42|01/08/2011|
So I guess the money we were given last year from the Bush tax cuts are not in effect this year? They gave us something last year and now they are taking it back? How lovely. 4|1|I tried finding out more info on this and came to this from the IRS web site|pussecat|pu55ecat@aol.com|09:59:31|01/08/2011|
http://www.irs.gov/individuals/article/0,,id=96196,00.html
The Withholding Calculator does not yet reflect the tax rules for 2011 recently enacted in the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010. The calculator still reflects 2010 law, which is not too different from the 2011 law in most respects. We expect to update the calculator in January. Until it is updated, we recommend that you use this version, and then check back here periodically. Once it is updated, you will be able to adjust your withholding (if necessary) so that you will have the right amount withheld by the end of the year.
Hopefully the calculator will be updated soon.
On a personal note, I think the feds are trying to "borrow" more money from us during the year and thus possibly "upped" the amounts they are taking out. One thing we can do to stop this is change either the number of dependents we claim on our w4's OR we can change the amount that's withheld on every paycheck to a specific amount. I know a lot of people don't want to do this as they have come to "depend" on their tax returns, however, your tax return check is merely an interest free loan you've given the government for the past year. In any case, HTH
***** BOYCOTT COUPON CLIPPING SERVICES that don't want YOU trading *****
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5|2|That's true, Jackie....people use their tax withholdings like a 'savings account' or Christmas Club...but they are not making money on it like they could in a savings acct at the bank....it is best to use a tax calculator to best estimate how much you should have taken out to avoid having to pay taxes when you file, but not have a huge return either. :)|saint6811|waylan@comcast.net|10:16:52|01/08/2011|
" You'll get what's coming to you ... Unless it was mailed."
7|3|Sadly, we wind up paying......they take so stink' much out weekly....yet feel the need to help themselves some more at tax time|kellysp6637|frugalk76@aol.com|10:41:08|01/08/2011|
how is that even right????????? 8|4|if you end up owing every year then I'd suggest|pussecat|pu55ecat@aol.com|11:32:36|01/08/2011|
either utilizing the calculator to figure out your proposed taxes for the following year and either having an additional amount taken out every week OR putting that additional amount into a savings account for tax time. You could also change the number of dependents you claim on your w4 to allow more $ to come out. My parents owed for something like 4 years straight.......... it turned out that my mother still had all 3 of us kids on her w4. BIG MISTAKE.
I've never owed anything more than $50 so I don't have any other suggestions.
Oh! You could ask Amy (abbicca) She is an accountant and has helped me with my taxes as well as alot of tohers on the boards. It does take her a couple of days to get back to you but I'm sure she'd be more than willing to help. GL!
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9|1|Since you can't even GET the withholding rate tables mailed yet...... I'd say they're still working on them|Abbicca|Abbicca@insightbb.com|01:45:16|01/09/2011|
With the 'political suicide NOT to sign it' tax bill that was signed in December, the IRS just hasn't had time to change all of the paperwork yet. Last I knew you have to look up the withholding tables on the IRS website because the books are not ready. And since they signed back in the child tax credit being $1000 for this year and I believe the next one (it was slated to drop back down) as well as the tax tables keeping the 10%, larger 15% bracket, etc etc.... the withholding tables that are currently viewable are the ones they worked up when they thought the CTC was dropping and rates were going up. Before they get published and sent out, I'm guessing they will drop back down.
I wouldn't change my W4 withholding statement yet as our dear Uncle Sam tends to OVER-correct when it is late or has made a mistake. (Remember how if you claimed "married" anything as your withholding rate they took out $800 less from you AND $800 less from your spouse if you BOTH worked and claimed married?---when a married couple only gets $800 TOTAL as a "Making work pay" credit?)
Since they've warned that millions of people will have to file later than usual (anyone with a tuition and fees deduction, educator expense, and Sch A itemizing being the ones to affect the most people), I'm assuming that they're prioritizing which to get ready first and the payroll tables should be among the first to be fixed since that one affects EVERYONE. Mid to late February is the last I've heard for when the IRS THINKS it will be ready for the above schedules to be filed and processed.
The good news is they signed the tax bill (it means more money in everyone's pockets but a larger national debt---so good/bad news) the BAD part of it is that they waited till late December to sign it---after the IRS had to make up forms/tables based on what was slated to go into effect. I'm sure this will be touted as another "job saving" and "economy stimulating" item since the IRS must be pulling overtime or hiring a ton of people to get ready for this tax season.... pity that it seems to be mainly government jobs that get "stimulated". 10|2|So Amy my peep we will see you in late Feb should I bring donuts again this year? lol lol|teener|teenerzacsneenee@yahoo.com|06:20:57|01/09/2011|
>Posted on Jan-09-11 at 01:45 AM (Eastern)
>by 74.132.217.171With the 'political suicide NOT
>to sign it' tax bill that
>was signed in December, the IRS
>just hasn't had time to change
>all of the paperwork yet.
>Last I knew you have to
>look up the withholding tables on
>the IRS website because the books
>are not ready. And since
>they signed back in the child
>tax credit being $1000 for this
>year and I believe the next
>one (it was slated to drop
>back down) as well as the
>tax tables keeping the 10%, larger
>15% bracket, etc etc.... the withholding
>tables that are currently viewable are
>the ones they worked up when
>they thought the CTC was dropping
>and rates were going up.
>Before they get published and sent
>out, I'm guessing they will drop
>back down.
>I wouldn't change my W4 withholding statement
>yet as our dear Uncle Sam
>tends to OVER-correct when it is
>late or has made a mistake.
> (Remember how if you claimed
>"married" anything as your withholding rate
>they took out $800 less from
>you AND $800 less from your
>spouse if you BOTH worked and
>claimed married?---when a married couple only
>gets $800 TOTAL as a "Making
>work pay" credit?)
>Since they've warned that millions of people
>will have to file later than
>usual (anyone with a tuition and
>fees deduction, educator expense, and Sch
>A itemizing being the ones to
>affect the most people), I'm assuming
>that they're prioritizing which to get
>ready first and the payroll tables
>should be among the first to
>be fixed since that one affects
>EVERYONE. Mid to late February
>is the last I've heard for
>when the IRS THINKS it will
>be ready for the above schedules
>to be filed and processed.
>The good news is they signed the
>tax bill (it means more money
>in everyone's pockets but a larger
>national debt---so good/bad news) the BAD
>part of it is that they
>waited till late December to sign
>it---after the IRS had to make
>up forms/tables based on what was
>slated to go into effect.
> I'm sure this will be
>touted as another "job saving" and
>"economy stimulating" item since the IRS
>must be pulling overtime or hiring
>a ton of people to get
>ready for this tax season.... pity
>that it seems to be mainly
>government jobs that get "stimulated".
11|2|Thank you for your reply here, Amy.....you summed up some of the questions I had so neatly! :) (like the education expenses deductions slowing down the filing time---DH is taking his RN classes) I had read some articles the last couple weeks, but they were a bit convoluted and confusing (at least for me, who finds tax laws dry and dull, and cannot keep my full attention on the info, lol!)|saint6811|waylan@comcast.net|08:03:17|01/09/2011|
" You'll get what's coming to you ... Unless it was mailed."
12|3|Answers for Joy and Tina |Abbicca|Abbicca@insightbb.com|14:07:52|01/09/2011|
You might be better off taking the Lifetime Learning CREDIT versus the education deduction, Joy
It depends on your tax bracket and income...so it's always good to run it both ways. I don't think there's any hold up on the form 8863 (Education CREDITS form)...just on the 8917 (Tuition and Fees DEDUCTION) form. I know, I'm speaking gibberish, but you might not have any hold ups is all I'm saying. :)
And Tina......no donuts this year. First of all, I've put on at least 5-10 pounds that I need to get rid of or shop for clothes (I HATE doing that)...and it'd be mean to my sister who can't eat the donuts now. Any gluten free snack would be great as we could all have some then. But they're pricey---so I totally understand. LOL. Maybe a can of peanuts (check the label for wheat issues---you'd be surprised) and only IF you can pry them away from Gary...LOL
13|4|Thank you, Amy :) I'll ask my accountant which would be better for us....I'm hoping Lance is about done soon, but it's taking him awhile as he is doing independent study....I appreciate your expertise! :)|saint6811|waylan@comcast.net|14:42:34|01/09/2011|
" You'll get what's coming to you ... Unless it was mailed."
14|4|AMy thanks so much for breaking that down for us, and Tina, betty crocker has a whole line of GLUTEN FREE mixes out now.. Good for Amy's sister, Bad for Amy's waist line. |dlpavitt|dlpavitt@att.net|15:04:04|01/09/2011|
ALways looking for:
daisy sourcream .60/1, or .50/1
utz chips, any
hunt's snack pack pudding
eggland's best eggs, .50/1 or better
powerade(any)
pepperidge farm cakes
thomas's english muffins
skippy peanut butter off 1
jif peanut butter off 1
Kellogg's off 1
General mills off 1
viva papertowels, .75/1
cottonelle, 1.00/1 or .50/1
cottonelle wipes 1.00/1 or better
coolwhip, any
gatorade g2
coupons good on ANY coke product
sprite coupons
mystic pizza coupons
Unused Stamps(small denomination's okay)
Well concealed cash
Free's(that I need)
bigelow tea, any
pphf, existing funds please
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Try to get all trades out with in 12 hours of confirmation. If you do not have a board name, and feedback, I will mail my end, only after I receive your end. Happy trading. Thanks for looking, Donna