Have you received your first pay check for 2013?

[HRTV]

http://www.kiplinger.com/tools/Socia...ator/index.php

Use this simple calculator to see how much your paychecks will drop starting in January because Congress decided to let the payroll tax holiday expire on schedule at the end of 2012. The end of the holiday means the employee share of the payroll tax that pays for Social Security reverts to 6.2% for 2013. For the past two years, the rate was cut to 4.2% in an effort to stimulate the economy.

For 2013, the Social Security wage base - the maximum amount of wage or self-employment income to which the Social Security payroll tax applies - is $113,700.


Read more: http://www.kiplinger.com/tools/Socia...#ixzz2HDm2g6YY
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[HRTV]

Happy New Year :-) :-( Im looking at roughly $104.70 per month taken out of my check starting this pay day.

[raceright]

Happy New Year :-) :-( Im looking at roughly $104.70 per month taken out of my check starting this pay day.

Yea but if you live long enough ya get some of this back lolololo

Someone tell me why the Unions spent several hundred millions of there members retirement money just to re elect the messiah. Is he that good and I just have not noticed.

[HRTV]

Please do not turn this thread into a political debate or the forum owners will delete it. This is a very helpful calculator tool that will help people adjust accordingly. Information is knowledge.

Thanks

[Mrs blueskyracer]

But this was only a tax holiday, not meant to be permanent. If it was permanent chances diminish for those of you younger than I to ever see anything from this "retirement plan".

[Guest]

Think about it!!

Social Security is based on how much you put into the system.

If you plan on retiring, the less you put into the system the less you get back. That means the more you put in the more you receive each month. This holiday the people had for the last couple of years, will hurt you in the retirement years by lowering your monthly payment.

[slickone]

Try swallowing 67.98 per week here, i am sure this includes some extra money the state of California needs and deserves from me! Ha

[bill boyes]

I have had a SS card since I was about 9 years old. I am now 71 have been receiving SS payments now for about 7 years. Comes every month. It is not an entitlement. I paid into the system. I would not be able to retire if not for SS.

[David Weaver]

Oh Please

Please do not turn this thread into a political debate or the forum owners will delete it. This is a very helpful calculator tool that will help people adjust accordingly. Information is knowledge.

Thanks

Come on Dan. Do not point a finger at congress and then ask the rest of us to refrain from discussing politics. Who do you think you are.... the President????

[rball82]

That's right David. The president raised the rate, therefore I raised mine across the board. Me being the evil business owner that the president despises will pass onto the consumer.

[HRTV]

Come on Dan. Do not point a finger at congress and then ask the rest of us to refrain from discussing politics. Who do you think you are.... the President????

Not sure I understand your point Dave or what you are trying to say? The Payroll Tax Break was just that a tax holiday "break" to help stimulate the economy by putting a few extra dollars in your pocket each pay day. It was never intended to be permeant and I clearly understand this.

As I clearly stated in my original post I thought the online calculator would be a very useful tool for members of this site to make adjustments and plan accordingly.

I do not have a political stand or agenda on this topic I merely thought the calculator tool would be helpful.

I will plan accordingly, adjust my monthly budget and move forward with life.

[fhafer]

Mine went up four entry fees per month, my wife's went up three entry fees per month. Catch my drift?

[STEVE FRENCH]

Been Civil-Service since Oct 1983........No S/S fer me except 1970-1983 in shops......Less than $300 month at 65......If anything left.

But $30K in Fed retirement......What's the hit to that??

[Bill Huson]

Yeah, and I gotta raise! 25 cents/hour - whoo hoo! Course to avoid having to pay benes we're only allowed 20 hours/wk, but still that's like an extra $5/wk. I am sooo excited. Tax prob? Nah, don't make enough money. Now the airport director makes 6 figures so I'll bet he's moaning, but me, who will be the one person crash crew when I report to work today, is in four figure bracket, a no-tax call. Irony is the big bucks airport director is not needed, he can go play golf, but if I fail to report the airport would be shut down for commercial traffic - FAA rule, must have ARFF guy/gal ready to roll . . .

[burl11]

Pay Check Check-up

Mine went up four entry fees per month, my wife's went up three entry fees per month. Catch my drift?

Fred,

Now that I catch your drift, I wish I didn't.

I broke out my calculator, and summing the additional "fair share" of taxes taken out each week, over the next calendar year, my take-home pay is reduced by an amount that is equal to the full expenses for four race weekends.

Not good! Some tough choices may be coming up. Hopefully, we can maximize 3 in 2 races to stretch the racing budget.