Posted on 01/30/2018 6:41:29 AM PST by MMaschin
I've really been curious as to how the new tax law would effect my take home pay. I really believe that this mid-term election is going to focus on the law.
I'm starting this thread to see what kind of effect the new tax law is having on people's actually take home pay. My last paycheck was net 2940, and my post tax bill check is 3093, that is an increase of $153, or 5%!
If everyone is getting these kinds of 'crumbs', I think the Democrats may be in a world of hurt come November.
So, for anyone OK with it, lets hear what kind of increase you have received, no need to post what you make, just the percentage effect. For anyone bad at math, simply take the difference, 153 in my case, and divide it by the old salary, 2943 in my case, and you will get the percentage increase .0519 in my case.
Thnx
Ooooo.... I’ll bet you’re “rich,” because we’ve been incessantly told that only the “rich” benefit from this tax break. :)
POTUS Trump’s genius timing strikes, again!!
He needs to see this thread before tonight’s SOTU.
As Ann Coulter said many years ago, if there was no Tax Withholding and everyone had to pony up their Taxes on April 15th, not one Democrat would be Elected to Office.
I remember asking my Wife’s S-I-L how much she paid in Income Taxes. She tells me, I got a Refund. I again asked her how much she paid, she hadn’t a clue how much they kept.
Also, as has been pointed out to me in a PM, look at asset protection issues beyond insurance - such as homesteading. This is why it is worth knowing a really good business lawyer.
I got a notice yesterday that beginning with my next pension check (tomorrow), my Federal taxes will drop $75 a month. To me that’s not crumbs.
If it’s $1K annually on a $50K salary, that’s 2%.If that “isn’t much,” tell your employer to make that an addition to your 401(k) contribution instead of putting it in your paycheck.
Then tell me what that does for your prospective retirement income!
For a typical young person, an additional 2% of gross added to the 401(k) year after year will really help his/her retirement prospects.
30 bucks a week for me.......30 bucks that I can spend instead of some gubmint flunky.
So I got my first check today 1.31.2018 under the new tax code with a whopping 4.5% increase ($120.00 extra bi-weekly) that is $240 extra a month!
Go Trump!!!
#Winning
Anyone else #Winning?
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