Its official - My Federal Taxes are going up Jan 1

[Chapdog]

Got a company wide email telling us that regardless of how congress acts our paycheck withholding will be changing for our paychecks starting at the 1st of the year. The explanation is that even if congress acts it will not be in time for the adjustments to be made.

 

[Cancel 2018. 3]

do you make under 250K?

 

[Damocles]

He does.

 

[Bonestorm]

Got a company wide email telling us that regardless of how congress acts our paycheck withholding will be changing for our paychecks starting at the 1st of the year. The explanation is that even if congress acts it will not be in time for the adjustments to be made.

Your tax withholdings are going up, not your taxes. And you can dicker with your withholdings so that they don't go up if you really want to.

 

[Chapdog]

Your tax withholdings are going up, not your taxes. And you can dicker with your withholdings so that they don't go up if you really want to.

I could do that but I would be worried that once the extension is passed (and i think there will be one) they will send us a check in the mail. Then because I changed my W-4 I will be off on my tax calc's at the end of 2011. Also, its a pain in the ass and at a 50K employee company takes like 3 paycheck cycles.

 

[Bonestorm]

I could do that... but I would be worried that once the extension is passed (and i think there will be one) They will wanna send us a check in the mail and then because I changed my W-4 I will be off on my tax calc's at the end of 2011. Also its a pain in the ass and at a 50K employee company takes like 3 paycheck cycles.

Just trying to help.

 

[Chapdog]

thanks appreciate it. Ill just pull a few hundred form the xmas fund to cover the difference for the first few paychecks.

 

[Bonestorm]

thanks appreciate it. Ill just pull a few hundred form the xmas fund to cover the difference for the first few paychecks.

OT:

I assume you're voting for Charlie Baker next week, but where do you stand on the ballot questions?

 

[Cancel 2018. 3]

why is it necessary to increase tax withholdings?

 

[Chapdog]

I assume you're voting for Charlie Baker next week, but where do you stand on the ballot questions?

im actually out of town on business next week so I submitted an absentee ballot.

Voted for Baker - Because Patrick raised taxes when he promised not to during campaign and frankly this states legislature is so one sided democrat (and not moderate dems - left left dems) we do MUCH better when we have checks and balances of a Republican Governor that can veto the crap they spew.

Question 1 Taxes Sales tax eliminated for alcohol sales in the state - Voted Yes because its a double taxation. There was already excise tax on it.

Question 2 Housing Repeal a housing law - Voted yes because I think a permit should be obtained for each individual housing development. The current law required only one blanket permit.

Question 3 Taxes Roll 6.25% sales tax back to 3% - I voted yes for 2 reasons. 1 is that the increase of tax rate from 5% to 6.25% was unjustified. 2 that even tho im fine with it at 5% that it used to be if this question fails it would be a rubber stamp for further tax increases they have been talking about including the gas tax in the state. (as proven the last time we voted down a tax question)

FYI- for many of the local races in my area I voted for the democrats.

 

[Bonestorm]

im actually out of town on business next week so I submitted an absentee ballot.

Voted for Baker - Because Patrick raised taxes when he promised not to during campaign and frankly this states legislature is so one sided democrat (and not moderate dems - left left dems) we do MUCH better when we have checks and balances of a Republican Governor that can veto the crap they spew.

Question 1 Taxes Sales tax eliminated for alcohol sales in the state - Voted Yes because its a double taxation. There was already excise tax on it.

Question 2 Housing Repeal a housing law - Voted yes because I think a permit should be obtained for each individual housing development. The current law required only one blanket permit.

Question 3 Taxes Roll 6.25% sales tax back to 3% - I voted yes for 2 reasons. 1 is that the increase of tax rate from 5% to 6.25% was unjustified. 2 that even tho im fine with it at 5% that it used to be if this question fails it would be a rubber stamp for further tax increases they have been talking about including the gas tax in the state. (as proven the last time we voted down a tax question)

FYI- for many of the local races in my area I voted for the democrats.

Looks like we'll cancel each other out.

 

[Chapdog]

Looks like we'll cancel each other out.

im actually surprised your at least not voting no for Q1 and Q2.

 

[Bonestorm]

im actually surprised your at least not voting no for Q1 and Q2.

On Question 1, it'll blow a hole in a budget that's already strapped. I don't buy booze that often and when I do I usually get it at BJ's where the prices are already discounted bigtime and the excise tax isn't that big a hit.

On Question 2, I think 40B is essential, particularly where you have schools largely funded at the local level by property taxes. The rich kids go to the rich schools in the rich towns and the poor kids go to the poor schools in the poor towns. That's a bad system. 40B helps a little bit.

On Question 3, I'm surprised that you support it. Even Charlie Baker realizes it will be a disaster if it passes.

 

[Chapdog]

On Question 1, it'll blow a hole in a budget that's already strapped. I don't buy booze that often and when I do I usually get it at BJ's where the prices are already discounted bigtime and the excise tax isn't that big a hit.

On Question 2, I think 40B is essential, particularly where you have schools largely funded at the local level by property taxes. The rich kids go to the rich schools in the rich towns and the poor kids go to the poor schools in the poor towns. That's a bad system. 40B helps a little bit.

On Question 3, I'm surprised that you support it. Even Charlie Baker realizes it will be a disaster if it passes.

Q1 - I will never support double taxation regardless of concerns.

Q2 - Im assuming your referring to how a blanket permit to construct Low income housing would allow developers to drop them in good school districts once they sinisterly applied for the first one that didn't effect those communities? I think people have a right to protect there communities from devaluation and this takes away some of that right. Its the wrong way to do it.

Q3 - I would rather it be 5% but im completely convinced and I would be willing to make a private bet moderated by someone on this board for a significant dollar amount with you that IF Patrick wins re-election (he is ahead now) and if Q3 fails that within the next 3years from Jan 1 we will have a tax increase on something. Its a rubber stamp of approval. If you get an opportunity to vote taxes lower you take it.

 

[Mott the Hoople]

Got a company wide email telling us that regardless of how congress acts our paycheck withholding will be changing for our paychecks starting at the 1st of the year. The explanation is that even if congress acts it will not be in time for the adjustments to be made.

My taxes went up this year too......it's been a good year!

I hope I have this problem again. This is one problem I can certainly live with.

 

[Cancel 2018. 3]

why is it necessary to increase tax withholdings?

nigel?

 

[Bonestorm]

nigel?

I didn't realize that question was addressed to me.

I have no idea. Ask Chap to ask his HR department.

 

[tinfoil]

If your company still offers health insurance, get ready to include the value as income.
If your company offered health insurance in the past, but is going to stop in the future, get ready to see no additional income as they will be paying a fine for keeping you employed.
If your company never offered health insurance in the past, get ready to see a cut in your income as they will be paying a fine for keeping you employed.

 

[FUCK THE POLICE]

Question 1 Taxes Sales tax eliminated for alcohol sales in the state - Voted Yes because its a double taxation. There was already excise tax on it.

Yeah, because they were trying to tax it at a greater rate. It would make more logical sense to repeal or reduce the alcohol tax than to abolish the sales tax specifically for alcohol, but whatever.

 

[FUCK THE POLICE]

If your company still offers health insurance, get ready to include the value as income.

The value of health insurance is still tax exempt. I'd personally rather a lower level of general taxation without such exemptions, but whatever.

If your company offered health insurance in the past, but is going to stop in the future, get ready to see no additional income as they will be paying a fine for keeping you employed.
If your company never offered health insurance in the past, get ready to see a cut in your income as they will be paying a fine for keeping you employed.

1) Not necessarily true that they'll pass it all off as paycuts, just as they certainly don't pass off tax breaks as raises.

2) You're going to get health insurance. Which is fucking expensive.