General Discussion

MacKasey

(1,544 posts)

48. Tax rate always goes down January 1st

Thu Feb 1, 2018, 02:30 PM

Feb 2018

Everyone got more money in their paychecks because the tax rate drops back to 10% January 1st, not because of the tax cuts unless you make $10,000 in a weak

When you hit $10,000 is when you will see a differ of 3%, tax is going down from 15% to 12%. If you do not make more then $38,000 that is all the tax break you will see

That's the way I understand it

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Got my new paycheck today with new withholding. [View all] fescuerescue Feb 2018 OP

Check that they aren't underwitholding Loki Liesmith Feb 2018 #1

They didn't give you a new W-4? yallerdawg Feb 2018 #5

You don't have to fill out a new W-4 Dragonfly64 Feb 2018 #17

What if the employee wants to have more withheld? yallerdawg Feb 2018 #20

Your payroll department leftynyc Feb 2018 #21

Because the tax rate goes down across the board. B2G Feb 2018 #22

You need to figure that out yourself marylandblue Feb 2018 #29

That's not the way this works. B2G Feb 2018 #31

There's a line on the w-4 for "additional witholding" marylandblue Feb 2018 #40

I know that. B2G Feb 2018 #42

I read that they padded it somehow this time marylandblue Feb 2018 #43

They cut deductions on the back end, too. yallerdawg Feb 2018 #49

The personal deductions are gone DeminPennswoods Feb 2018 #72

No. The new withholding just appeared. fescuerescue Feb 2018 #74

Also IRS has not yet released the 2018 w-4 form. aidbo Feb 2018 #91

"$XXXXX.XX" yallerdawg Feb 2018 #92

But if you invest that $67 per week for 12,000 years, guillaumeb Feb 2018 #2

574 years lapfog_1 Feb 2018 #6

I actually used the number 12,000 in an attempt at humor. guillaumeb Feb 2018 #9

I think lapfog was using humor, too davekriss Feb 2018 #44

Bingo+ lapfog_1 Feb 2018 #95

yes I know. lapfog_1 Feb 2018 #55

That my very point! imanamerican63 Feb 2018 #3

Those aren't crumbs. NCTraveler Feb 2018 #4

Wait until they cut SS, Medicare and octoberlib Feb 2018 #13

That's the argument. NCTraveler Feb 2018 #15

Woe to the party that raises taxes MichMary Feb 2018 #56

works out to $3,474 a year lapfog_1 Feb 2018 #23

If the OP is earning about $15/hour it sure is! LeftInTX Feb 2018 #24

He said his mindem Feb 2018 #32

He said his withholding went from $399 to $466 LeftInTX Feb 2018 #38

Not at all lapfog_1 Feb 2018 #59

No, you are wrong. WillowTree Feb 2018 #64

I said the federal withholding went from $466 lapfog_1 Feb 2018 #68

Another solid argument. NCTraveler Feb 2018 #25

I got 15 bucks every 2 weeks. 360/year. That is crumbs sarah FAILIN Feb 2018 #27

Again, check your stub in 2 weeks. B2G Feb 2018 #33

No, my company implemented them early sarah FAILIN Feb 2018 #37

How did they do that? nt B2G Feb 2018 #39

They sent an email to us sarah FAILIN Feb 2018 #51

Quickbooks pushed the tables out about Jan 20 stopwastingmymoney Feb 2018 #57

Yep my company sent out a note Dem_4_Life Feb 2018 #58

And your story is the more common story lapfog_1 Feb 2018 #62

With the rate that prices on, well, everything, continues to go up Proud Liberal Dem Feb 2018 #30

Completely dependent on other factors. NCTraveler Feb 2018 #41

Especially if the unintended consequence of this tax break lapfog_1 Feb 2018 #65

I think they meant that their *takehome* went from $399.26 to $466.50. WillowTree Feb 2018 #47

You are correct. NCTraveler Feb 2018 #53

I did not read it that way... lapfog_1 Feb 2018 #70

You are correct fescuerescue Feb 2018 #76

OP's withholding went down DeminPennswoods Feb 2018 #75

I get to pay $1000 a year more on my FIXED income of Social Security and sinkingfeeling Feb 2018 #60

Another solid argument. NCTraveler Feb 2018 #63

The loss of personal exemption is offset by an increase in DeminPennswoods Feb 2018 #78

As a single person, why would I want to take a standard deduction of $12,000 sinkingfeeling Feb 2018 #80

In your case, you wouldn't DeminPennswoods Feb 2018 #82

The crumbs comment comes from who ends up getting the cookie! Freethinker65 Feb 2018 #77

AND Iliyah Feb 2018 #7

How do you figure? WillowTree Feb 2018 #54

k and r..nt Stuart G Feb 2018 #8

If the withholding went from $399.26 to $466.50, your paycheck would go DOWN by $67 nt karynnj Feb 2018 #10

I edited for clarity. fescuerescue Feb 2018 #71

Makes sense :) karynnj Feb 2018 #79

Is that with the new tables or old? B2G Feb 2018 #11

Thank you. octoberlib Feb 2018 #14

lucky you, we get 64.82 extra per month gopiscrap Feb 2018 #12

Well, MichMary Feb 2018 #66

you don't understand? Skittles Feb 2018 #85

Can't help but think Windy City Charlie Feb 2018 #16

Enjoy it while it last. Its temporary for you TeamPooka Feb 2018 #18

Which party will MichMary Feb 2018 #67

"Tax the rich" is a winning motto. They just got huge cuts. TeamPooka Feb 2018 #83

Actually... stevenelijah Feb 2018 #19

$268 a month is crumbs to you? Must be nice. LexVegas Feb 2018 #26

ikr obamanut2012 Feb 2018 #45

that's a 15% reduction in withholding. i rather doubt most people's tax bill will go down that much unblock Feb 2018 #28

That's actually a really good point. fescuerescue Feb 2018 #73

I got 15 bucks every 2 weeks. 360/year. That is crumbs sarah FAILIN Feb 2018 #34

new tables Historic NY Feb 2018 #35

We should be careful, there are many examples of Nancy Pelosi and others parkerMcDavis Feb 2018 #36

I would love to get an extra $67 a week! Kaleva Feb 2018 #46

Tax rate always goes down January 1st MacKasey Feb 2018 #48

I remember in the 80s when Reagan gave the military a pay raise demigoddess Feb 2018 #50

This whole "crumbs" narrative is dangerous Dreamer Tatum Feb 2018 #52

That's not great but better than nothing. It looks like we'll get an extra $60 a month Luciferous Feb 2018 #61

To the run of the mill Fox news idiot $67.00 is a lot and they are happy the pukes are looking out Autumn Feb 2018 #69

question burnbaby Feb 2018 #81

And next year, you will owe more in taxes. alarimer Feb 2018 #84

people are so easily fooled Skittles Feb 2018 #86

So basically $250 per month titaniumsalute Feb 2018 #87

MFJ fescuerescue Feb 2018 #88

Check the math Gothmog Feb 2018 #89

That wouldn't surprise me at all. fescuerescue Feb 2018 #93

Nope sorry it's crumbs compared to what taxes are getting cut where and for whom. nt Kirk Lover Feb 2018 #90

Gas is up 15% in 45 days. moondust Feb 2018 #94