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.
Its monthly. All the other retired cops that I know received higher pension checks this month as well. So yeah its true!
Well you need to explain to me how this months withholding was adjusted when the IRS only issued the new guidelines on Jan 11. So attributing this to the tax cut is BS unless you can explain.
It was more than likely a cost of living increase as was the case for social security and other government pensions that occur in January.
My pension check went up $ 146. In my work life I dealt with tax withholding tables. When other cuts took effect and my paycheck went up, the following year I had to write a bigger check to IRS when I filed my tax return. When they adjust the withholding tables, the changes are overly optimistic especially for those of us with other sources of income.
What am I going to do with the money...spend every last centavo of it here in Mexico, helping their economy.
Bingo, I've been making this point on each of these somewhat dubious posts. I'm looking forward to the new list of excuses here when these people all find in 2019 they now owe for TY 2018. I'm sure they'll blame correct people and realize it was just a ploy to make tax law look good for 2018 midterms...
Pension statement came in today. Up $180 a month. $2160 a year. Add in the additional money my wife will bring home our household take home will be up 5k a year. Hey Nancy Pelosi that's not crumbs! That's real money! Thank Mr President!!!
My monthly tax burden was reduced by $170.00. Wife will find out tomorrow. Federal income tax is still our highest monthly expenditure by far.
The supplemental tax rate was reduced to 22% (from 25%). Our bonuses and incentives are paid using the supplemental tax rate so there will be additional tax burden reduction.
My pension check went up $ 146. In my work life I dealt with tax withholding tables. When other cuts took effect and my paycheck went up, the following year I had to write a bigger check to IRS when I filed my tax return. When they adjust the withholding tables, the changes are overly optimistic especially for those of us with other sources of income.
What am I going to do with the money...spend every last centavo of it here in Mexico, helping their economy.
That is what happened in NC when the GOP put in their tax cut for the Pope family. It did not give anyone else except the 1% a tax cut.
Location: Free State of Florida, Support our police
5,859 posts, read 3,296,750 times
Reputation: 9146
Quote:
Originally Posted by Goodnight
Well you need to explain to me how this months withholding was adjusted when the IRS only issued the new guidelines on Jan 11. So attributing this to the tax cut is BS unless you can explain.
It was more than likely a cost of living increase as was the case for social security and other government pensions that occur in January.
#1 I don't receive SS. I am 47 years old.
#2 I wont receive a COLA until I am 55
#3 Its from Trump's tax cut
You still have failed to explain how you could have received an increase for the month of January based on withholding changes that only went into effect Jan 11.
Location: Free State of Florida, Support our police
5,859 posts, read 3,296,750 times
Reputation: 9146
Quote:
Originally Posted by Goodnight
You still have failed to explain how you could have received an increase for the month of January based on withholding changes that only went into effect Jan 11.
I don't have to explain it to you. Myself and every retired NYPD cop received it.
Many of the people bragging about their paychecks going up are going to get caught out by this bigtime. Politicians want the least withholding possible so that laypersons will be impressed by their new larger net pay. The problem will be at the end of the year when people used to getting tax refunds are now writing a check to pay the balance due instead.
Actually, many people will have larger pay checks AND get a bigger refund at the end of the year based on the tax reform.
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.
