Official 1st week of January paystub check-in: What was the damage? | TigerDroppings.com
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TulaneUVA
Virginia Fan
Member since Jun 2005
21234 posts

Official 1st week of January paystub check-in: What was the damage?

Got a decent raise this year, and it's essentially all but vanished due to tax increases.

My SS tax went up $115 PER PAYCHECK. Witholding tax went up $110 PER PAYCHECK.

frick man.
This post was edited on 1/8 at 9:54 am



MOT
LSU Fan
Member since Jul 2006
13518 posts

re: Official 1st week of January paystub check-in: What was the damage?
I'll find out Friday.


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SLafourche07
New Orleans Pelicans Fan
Member since Feb 2008
1467 posts

re: Official 1st week of January paystub check-in: What was the damage?
Mine went down the 2% for payroll tax and the company's insurance premiums went up $10/month.


How long did it take you to get to $150,000?

ETA: Unless you get paid weekly. Then...
This post was edited on 1/8 at 10:13 am


lynxcat
Rutgers Fan
Member since Jan 2008
14768 posts

re: Official 1st week of January paystub check-in: What was the damage?
Mine should only be the 2.0% SS increase. Health premiums may have increased slightly, but not too much.


RickAstley
LSU Fan
Reno, Nevada
Member since May 2011
1650 posts

re: Official 1st week of January paystub check-in: What was the damage?
My first check is next Tuesday. HR has already alerted the company of the increases before associates start raising hell about how much money is disappearing. I was pumped to get a raise, although it will be all but negated by tax increases.


LordSnow
LSU Fan
Round Rock (Finally)
Member since May 2011
3449 posts

re: Official 1st week of January paystub check-in: What was the damage?
$90 less deposited this check


matthew25
Ole Miss Fan
Member since Jun 2012
3894 posts

re: Official 1st week of January paystub check-in: What was the damage?
To earlier poster: Why the reference to $150,000?


rickgrimes
LSU Fan
Member since Jan 2011
2999 posts

re: Official 1st week of January paystub check-in: What was the damage?
$270. FML.


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SLafourche07
New Orleans Pelicans Fan
Member since Feb 2008
1467 posts

re: Official 1st week of January paystub check-in: What was the damage?
quote:

To earlier poster: Why the reference to $150,000?


SS went up $115/check on his check.
Assuming biweekly pay: 26 checks a year.

115*26 = $2990

taxes were raised 2%:

2990/.02 = $149,500



TulaneUVA
Virginia Fan
Member since Jun 2005
21234 posts

re: Official 1st week of January paystub check-in: What was the damage?
I am not making $150k/year, so not sure why the math doesn't work out. But it's in that range...


SLafourche07
New Orleans Pelicans Fan
Member since Feb 2008
1467 posts

re: Official 1st week of January paystub check-in: What was the damage?
If you make more it's probably because of pretax insurance. If you make less, then I have no idea.


TulaneUVA
Virginia Fan
Member since Jun 2005
21234 posts

re: Official 1st week of January paystub check-in: What was the damage?
It's less


SLafourche07
New Orleans Pelicans Fan
Member since Feb 2008
1467 posts

re: Official 1st week of January paystub check-in: What was the damage?
Same. By about two-thirds.


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BROffshoreTigerFan
USA Fan
Youngsville
Member since Oct 2007
9706 posts

re: Official 1st week of January paystub check-in: What was the damage?
quote:

Got a decent raise this year, and it's essentially all but vanished due to tax increases.


Isn't it awesome making more but taking home less? I found out last week.


RickAstley
LSU Fan
Reno, Nevada
Member since May 2011
1650 posts

re: Official 1st week of January paystub check-in: What was the damage?
quote:

Isn't it awesome making more but taking home less?


Yep, I had to cross off strippers and blow from my 2013 budget thanks to Uncle Sam. For those reading, pay raise does not mean strippers and blow. Essentially crushing, a very persistent dream, to be Charlie Sheen
This post was edited on 1/8 at 12:13 pm


Chris4x4gill2
Alabama Fan
North Alabama
Member since Nov 2008
2180 posts

re: Official 1st week of January paystub check-in: What was the damage?
My Ins went up about $30/2wks. I took out a larger chunk for Flex Spending (pre-tax) so even with the 2% SS increase I cam out only down $5 / 2wks - Once I add back what I can spend monthly in my Flex acccount.


Vols&Shaft83
Tennessee Fan
Member since Dec 2012
24626 posts

re: Official 1st week of January paystub check-in: What was the damage?
Self employed, so I won't notice the increase until estimated payment time in April, preparing for the inevitable butt raping I'll endure from SS increase, it's gonna hurt.


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C
LSU Fan
The Woodlands, TX
Member since Dec 2007
22762 posts
Online

re: Official 1st week of January paystub check-in: What was the damage?
I could probably figure it out but my pay stub isn't coming till the end of the month. I'll bump this thread then and let you know the difference line by line.


TigerintheNO
LSU Fan
New Orleans
Member since Jan 2004
24185 posts
Online

re: Official 1st week of January paystub check-in: What was the damage?
quote:


If you make more it's probably because of pretax insurance. If you make less, then I have no idea


I believe the SS tax is on gross income, and is capped at 110K.


RickAstley
LSU Fan
Reno, Nevada
Member since May 2011
1650 posts

re: Official 1st week of January paystub check-in: What was the damage?
Just going by my math I will pay $1700 more than last year for SS. Look at all of those big macs I won't get to eat


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