Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Just got a raise on my retirement, I am under 65 and my employer pays most of my health insurance, now for the first time ever I get a cola tax which is larger than my cost of living raise. Where did this cola tax come from?
Just got a raise on my retirement, I am under 65 and my employer pays most of my health insurance, now for the first time ever I get a cola tax which is larger than my cost of living raise. Where did this cola tax come from?
Well, since you've got private insurance through your employer you should be talking to your human resources department to have them explain it to you.
I remember one time on my first job, I got a raise , which kicked me into another tax bracket so that my take home was actually a few dollars less than it was prior to raise. Fiscal realities !
Well, since you've got private insurance through your employer you should be talking to your human resources department to have them explain it to you.
I remember one time on my first job, I got a raise , which kicked me into another tax bracket so that my take home was actually a few dollars less than it was prior to raise. Fiscal realities !
Your take home might have been lower, but your taxes weren't (due to the raise at least) once you filed. And you can change your withholding whenever you want to...
Just got a raise on my retirement, I am under 65 and my employer pays most of my health insurance, now for the first time ever I get a cola tax which is larger than my cost of living raise. Where did this cola tax come from?
I have never heard of such a thing as a "cola tax". Can you please explain yourself? Do you mean that the raise in your retirement benefits resulted in an increase in your tax withholding? And what is the "raise on my retirement", exactly? What retirement? Social Security? Private pension? Public employee pension? Was the raise a cost of living adjustment (COLA)?
If your increased income bumped up your withholding automatically, that is not the same thing as a "tax". It is really hard to understand your post when you use such vague and non-specific language. Please help us out here.
I have never heard of such a thing as a "cola tax". Can you please explain yourself? Do you mean that the raise in your retirement benefits resulted in an increase in your tax withholding? And what is the "raise on my retirement", exactly? What retirement? Social Security? Private pension? Public employee pension? Was the raise a cost of living adjustment (COLA)?
If your increased income bumped up your withholding automatically, that is not the same thing as a "tax". It is really hard to understand your post when you use such vague and non-specific language. Please help us out here.
Public pension, but it was a cola tax on "my health care benefit". Has nothing to do with witholding or any other kind of tax. I was just wondering because I have been retired for a while and never was taxed on my health insurance.
Public pension, but it was a cola tax on "my health care benefit". Has nothing to do with witholding or any other kind of tax. I was just wondering because I have been retired for a while and never was taxed on my health insurance.
Thanks for the clarification, and sorry I was confused.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
