And Your First Paycheck of the Year is.....

[Anonymous]

For those making less than $450K the only change was the additional 2% returning to FICA payroll tax. This 2% maxes out at your first $110,000 of wages. So your max increase from this is $2,200 annual or $183/ month.

That's x 2 if both work and make $110K+

[Anonymous]

Anonymous wrote:Yuck. We are going to lose about $300 per month.

But none of this impacts the middle class, right? Hah.

These were tax breaks that were going to expire either way. You weren't hit with a tax increase, that is what didn't impact the middle class.

[Anonymous]

Anonymous wrote:Yuck. We are going to lose about $300 per month.

But none of this impacts the middle class, right? Hah.

You're not middle class if you're losing $300/ month from the additional 2% in FICA

[Anonymous]

we just got paychecks yesterday- about $200/ month combined.

we are both up for evaluation so hoping we get raises to close the gap a bit.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Yuck. We are going to lose about $300 per month.

But none of this impacts the middle class, right? Hah.

You're not middle class if you're losing $300/ month from the additional 2% in FICA

What am I then? That's for a two income house. We are by no means rolling in the dough.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Yuck. We are going to lose about $300 per month.

But none of this impacts the middle class, right? Hah.

You're not middle class if you're losing $300/ month from the additional 2% in FICA

What am I then? That's for a two income house. We are by no means rolling in the dough.

Rich

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Yuck. We are going to lose about $300 per month.

But none of this impacts the middle class, right? Hah.

You're not middle class if you're losing $300/ month from the additional 2% in FICA

What am I then? That's for a two income house. We are by no means rolling in the dough.

Rich

I never thought making an annual income of $72K would be rich. But so be it.

[Anonymous]

I don't get it but I don't get any of this.

I put just my salary in 122000.

Failure to extend the Social Security tax cut means your 2013 tax burden will increase by $203.30 per month for the first 11 months of 2013 and an additional $37.33 in month 12, for an annual total of $2274

The I put our HHI in 244000

Failure to extend the Social Security tax cut means your 2013 tax burden will increase by $406.70 per month for the first 5 months of 2013 and an additional $240.67 in month 6, for an annual total of $2274.

It comes out the same $2274.

Whatever. I don't really trust a button that says "Calculate Higher Tax Burden"

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Yuck. We are going to lose about $300 per month.

But none of this impacts the middle class, right? Hah.

You're not middle class if you're losing $300/ month from the additional 2% in FICA

What am I then? That's for a two income house. We are by no means rolling in the dough.

Rich

I never thought making an annual income of $72K would be rich. But so be it.

If you make $72K, then your monthly take home did not change by $300/ due to taxes

[Anonymous]

I'm a single parent, and I only make $79K. Mine's going down $136 a month. I thought that couldn't be right, but I figured out the Social Security at 6.2% and the new deduction seems to be correct. Sigh.

[Anonymous]

Anonymous wrote:I don't get it but I don't get any of this.

I put just my salary in 122000.

Failure to extend the Social Security tax cut means your 2013 tax burden will increase by $203.30 per month for the first 11 months of 2013 and an additional $37.33 in month 12, for an annual total of $2274

The I put our HHI in 244000

Failure to extend the Social Security tax cut means your 2013 tax burden will increase by $406.70 per month for the first 5 months of 2013 and an additional $240.67 in month 6, for an annual total of $2274.

It comes out the same $2274.

Whatever. I don't really trust a button that says "Calculate Higher Tax Burden"

I used my take home pay from last period subtracting this period to come up with the difference. Then times by 26 for annual.

[Anonymous]

My husband's first paycheck of the year (2 week increments) was a little over $100 lighter on a $102K income. This also includes a small deduction for a HSA that we just started.

I would imagine we will come in about $300 less per month. I won't know until end of the month, as my first paycheck this year is padded with holiday and PTO pay. It wasn't my normal hours (I work PT).

YUCK, but I have reminded several friends (some of whom had a lightbulb moment and some just prefer to whine) that this is mostly due to the tax holiday that amounted to a tax CUT a couple years ago that we just got used to and then expired.

Some people will never understand such things and just prefer to bitch.

[Anonymous]

Anonymous wrote:I don't get it but I don't get any of this.

I put just my salary in 122000.

Failure to extend the Social Security tax cut means your 2013 tax burden will increase by $203.30 per month for the first 11 months of 2013 and an additional $37.33 in month 12, for an annual total of $2274

The I put our HHI in 244000

Failure to extend the Social Security tax cut means your 2013 tax burden will increase by $406.70 per month for the first 5 months of 2013 and an additional $240.67 in month 6, for an annual total of $2274.

It comes out the same $2274.

Whatever. I don't really trust a button that says "Calculate Higher Tax Burden"

The calculator isn't taking into account that the additional 122k is from another person. Each individual owes FICA on $110k of their income. So your increased tax burden (assuming that 244k is all or mostly wages) is 2274 x 2.

[Anonymous]

Anonymous wrote:I don't get it but I don't get any of this.

I put just my salary in 122000.

Failure to extend the Social Security tax cut means your 2013 tax burden will increase by $203.30 per month for the first 11 months of 2013 and an additional $37.33 in month 12, for an annual total of $2274

The I put our HHI in 244000

Failure to extend the Social Security tax cut means your 2013 tax burden will increase by $406.70 per month for the first 5 months of 2013 and an additional $240.67 in month 6, for an annual total of $2274.

It comes out the same $2274.

Whatever. I don't really trust a button that says "Calculate Higher Tax Burden"

The Social security portion of FICA maxes out on your first $110,000 or so of wages. So the additional 2% is only on your first $110,000 of wages. Anything above that is not taxed for the social security portion of FICA

[Anonymous]

Anonymous wrote:I'm a single parent, and I only make $79K. Mine's going down $136 a month. I thought that couldn't be right, but I figured out the Social Security at 6.2% and the new deduction seems to be correct. Sigh.

There may be other variables that changed. Maybe your health insurance premium increased some?