Take home pay is going down

Discussion in 'Random Ramblings' started by Mac in Wisco, Jan 4, 2010.

  1. Mac in Wisco

    Mac in Wisco Antagonist

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    May 25, 2007
    SW Wisconsin
    My wife and I received our military pension payments today and it took me a few minutes to figure out why we each got about $40 less. It's because the Federal Income Tax Withholding tables reverted back to before the Making Work Pay Tax Credit went into effect in 2009. Unless you had your payroll folks adjust your withholding otherwise, each person had about $40 less taken out in withholding putting more back into their take-home pay from April - December. Now it's back to normal.
     
  2. speckledhen

    speckledhen Intentional Solitude Premium Member

    Just checked and ours is the same as usual, Mac. We were expecting it to be less, but it isn't.
     
  3. Mac in Wisco

    Mac in Wisco Antagonist

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    May 25, 2007
    SW Wisconsin
    Quote:Hmm... That's strange. I just looked at both of our statements. It wasn't quite the $40 I had stated, but it was $17 more federal withholding for each of us. The other deductions were from other changes. The $17 must be the difference between the Making Work Pay withholding tables and new 2010 tables.
     
  4. lockedhearts

    lockedhearts It's All About Chicken Math

    Apr 29, 2007
    Georgia
    Hubby's was less, but I was prepared for the loss so I didn't have a coronary........
     
  5. thebritt

    thebritt Chillin' With My Peeps

    Mar 5, 2009
    Humboldt County
    My DH lost his job in Sept. Our income is now 1/2 what it was...yet the animals don't seem to be eating less, and the bills haven't gone down....[​IMG]
     

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