Now that it's February, did your take home pay increase?

[B2G]

Enquiring minds...

[gopiscrap]

1. yeah 26.00 a month

[B2G]

2. Also a question for the big tax brains

Are the increases seen in February including retro taxes for January, or is this what is to be expected going forward?

[Freddie]

6. Going forward only

There was no retro tax decrease and I honestly don't see how that could be done. I do payroll for a (modest) living.

[B2G]

7. TY! nt

[haele]

3. $28.50 twice a month.

My take-home pay increased by $57 a month. Of course, I don't make six figures, so I didn't expect it to go up that much...
I have to talk to my employer about my exemptions and state tax anyway; I ended up owing the Feds almost $500 this year, but I got back almost $3K from the State. First time that's happened, and I had an accountant buddy at work look at my return over lunch to double check; everything was in order...



I always try to "break even", with around $200 back from each at the end of the year. This year, it was WTF?

I don't trust Drumpf's new IRS, so that $57 a month gain will probably end up being a net loss of $100 a month to the Feds after all is said and done just to break even next year.

Haele

[BBG]

4. Almost $50/month less in fed tax

On salary ~8% higher than last year. So yes, some temporary lift to take home pay.

[bearsfootball516]

5. Yes, about $50 a month

[redstatebluegirl]

8. The guy who did our taxes this year told us to adjust our withholding

to what it was in 2017 or we would owe. He said this is all smoke and mirrors by and large. Especially if you itemize and have business expense.

[Freddie]

9. That's exactly what I did

I reset my W4 to take the same amount as before and had DH do it too. I'd rather get a refund next year than owe.

[B2G]

10. I don't understand this.

Why would your 2018 withholding have changed? You control that.

Are you saying you reduced your withholding to offset additional taxes? How would that be needed if the tax brackets used when filing your taxes changed?

[redstatebluegirl]

11. We filed married and claimed 1 exemption in the past and it stayed that way with the

new law for January. When we picked up our taxes, he told us to go to 0 exemptions we needed an additional 800 dollars taken out over the course of the year or we would owe for 2018. I'm not a tax person, that is why we pay him, he said a lot of people will find that they owe at the end of the year this time. It depends on what you have taken as deductions in the past, how many kids you have, whether or not you take business deductions like mileage which I take.

[GulfCoast66]

12. Between the wife and I over $100 a week

Which is insanely!

We make more than 90% of Americans because we were lucky enough to get hired with a company over 30 years ago and have moved into mid management.

We have no kids, everything is paid for and we have a pension.

In a rational nation our taxes would be going up. Because most Americans are getting poorer.

We give to various charities but that is just a bandaid. Only a massive change in priorities of our government will turn things around.