I can't say that my taxes have gone up, yet, but I am concerned that a good chunk of my pay check has been inflated away...
Hadn't seen the results yet, but I were informed by HR last week that they will be using a new set of tax tables, and the net result should be an increase in take home pay...we shall see.
911, What increases started 4 days ago? I do know that as the current senate bill is written, as someone who makes abou 45k W2 income, I am going to see my health care be taxed. Something I don't relish with it being taxed at 40%... which will make it almost 3/4 of my W2 income. What taxes went up 4 days ago though?
Oh sheesh I hadn't thought about the health care tax. So how will we know if our employer-provided health care plan is considered "premium"?
ProdicalHorn, There are numbers, which I don't recall directly off the top of my head, but it is about 20k for a family. My total premiums for 2010 are JUST under that level. When the tax would kick in, if it passes unchanged, then the tax would be 40% of the plan package... So my insurance rates could very realistically go up 50% next year because I can't see the tax not being passed on to me. That would make my health insurance about 30K, with my W2 being about 45k... which is I guess about 2/3 NOT 3/4 of my W2... sorry about the erroneous math in my post above... I just almost get sick thinking about it. I am evidently 'rich' because my taxes are essentially going to sky rocket if this bill passes as is. Now, if I am wrong, then please please someone tell me I am, because this is one case, where I am not trying to engage in any scare tactics, but rather just feel this is the situation I am about to find myself in.
Is there a link on this thread to show me how the taxes have gone up. Serious question. I make under 250k and want to know how much my taxes are going up.
Well how, exactly, do you guys think we should pay for the massive government that our elected representatives ----- acting in our name ---- have inflicted upon us? I guess we could continue to just put it on our children's tab, but that doesn't seem morally right to me. As a Texan, I mean.
OK, then. So we know there are thieves who infest the halls of Congress, scumbags who give **** (and I do mean ****, though it is polished and packaged to be gold) to people so they'll be re-elected. How about we storm the halls with torches, pitchforks, and nooses at the ready? Sounds to me like those people need hanging.
I am still waiting for 2 things. 1) someone to say what taxes went up on January 1, 2010, because I haven't heard of such save here. and 2) someone to debunk the fact that as someone making about 45k in W2 income I am about to have about an INCREASE of about 8,000 in annual taxes.... which is an obvious breaking of a promise of Obama's. I know those 2 item's might be totally opposite in 'agenda,' but not really. I don't want to blame Obama for breaking a pledge if he hasn't... but I do want to hold him accountable as well.
Thank you 911. That is the answer I was looking for. As you I am sure noted, I am VERY concerned with how my taxes would be effected by health care reform.... that is a MASSIVE tax increase on me and m family. I am searching for accurate information, but so far, no one for health care reform on here, has told me I am wrong about my tax increases... I hope I am wrong!
You guys need to understand the difference between taxes withheld from your paycheck, and tax rates. They aren't the same thing. The withholding tables were adjusted last year (mandated in April) to take into account the "Making Work Pay Credit". This year's withholding table was adjusted to allocate the credit over a full year, rather than just a partial year. Therefore, a lot of people are having a few dollars more withheld from each paycheck. This however doesn't affect the total taxes owed at the end of the year. The credit is the same. I believe this is the only difference in the withholding tables, but I don't claim to be an expert. There are a few tax law changes that may impact a few people, with more possibly next year if a few provisions aren't extended. Here's a nice itemized list from the Turbo Tax folks of the changes for 2010 that may affect you: Federal Tax changes in 2010 The biggest one to affect most Texans will be: State and Local Sales Tax Deduction - The opportunity for itemizers to choose to deduct their state sales tax payments instead of deducting their state and local income taxes ends after 2009, unless Congress extends it. It's after the 2010 year that the current tax rates expire and fall back to the pre-2001 levels. That is the one that most people will be concerned with.
Oh sheesh I hadn't thought about the health care tax. So how will we know if our employer-provided health care plan is considered "premium"? __________________________________________________ First off, the bill isnt law yet so any taxes will probably not take effect until 2011. I'm not sure if they can retroactively apply it to 2010. I believe the senate bill will tax "premium" plans being those plans worth around $27,000 per year for families. I think the house bill is at $21,000. I'm not sure what the tax rate is. There will be a few changes before the final bill gets signed.
