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Pay raises as a result of new tax legislation

2,012 Views | 14 Replies | Last: 5 yr ago by IrishTxAggie
OldSoully
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I'm interested to see how many of you have received pay raises or bonuses since the new tax legislation was implemented? What industry/field of work are you in?
SidetrackAg
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AG
I aint get sht
koadie
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AG
I mean I got less taxes taken out of my check.
_________________________

Eph: 2:8
mm98
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AG
My check went up about $80 every two weeks.

Curious what it looks like when I file in 9 months.
The Collective
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AG
No actual pay raises due to legislation. Still a tight economy for our business. Insurance is squeezing our labor costs.
TX scallywAG
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AG
My wife's went up about $50 per month.

... then the health insurance went up slightly.

There goes my free monthly Chillis dinner.
---
Class of '10 - A&M Undergrad & Master's Alum
IrishTxAggie
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AG
20% off the top! Thanks S Corp!
IrishTxAggie
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AG
No 2 teas for you...
aTm2004
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AG
My company upped the 401k match instead.
cjo03
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AG
most individual employees should have seen reduced withholdings.. many big companies are still evaluating how they might modify benefit programs.. the law negatively impacts commuter benefits, subsidized cafeterias, certain types of awards, etc. and multinationals are still paying close attention to other in-flight tariffs and the impacts those may have on their business before any sort of new employee benefit commitments are made.
500,000ags
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AG
Everyone got 15% raises - per the Politics forum.
Turkey
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AG
Both my and my wife's "take home" amount went up (a little) due to decreased withholding. After I got my 2017 taxes done in March, I finally got around to looking into the new tax law in April. I discovered that in our situation, for our withholding to roughly equal our projected tax liability (that's my preference), our withholding would have needed to stay the same (not be reduced). So then we both had to increase our withholding quite a bit to make up the difference over the remaining 7 months of the year. In my adult lifetime, this is the third or forth time that I wished it was illegal for employers to change an employee's income tax withholding without the consent of the employee.
cjo03
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AG
Turkey said:

wished it was illegal for employers to change an employee's income tax withholding without the consent of the employee.


not your employers fault.. employer was legally required to update withholding % by 2/15... they didn't have a choice. but employees do have a choice to dial-up or down allowances/withholding.
JMac03
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AG
Mine went up ever so slightly due to the witholding stuff. I work for the state, we aren't getting *****

I heard from my tax lady that we won't be able to claim meals as a business expense (on my side gig). She said that could cause a bunch of issues for businesses, big and small. I hadn't heard that elsewhere, so not sure about it.
TexasAggie73
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AG
But, but , but, they where saying that businesses would pass on their tax saving to the employees, everybody would win, everything would be great. Lol. Now the tariffs will cost everyone more.
IrishTxAggie
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AG
The politics board is that way... >
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