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New Tax Withholding for 2018 Tax Law - My Federal Tax Withholding With Up!


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9 replies to this topic

#1 Burgerwars

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Posted 22 February 2018 - 08:27 AM

I'm looking at my pay stub for what will be direct deposited tomorrow.  I work for a major entity and make over $100,000 per year.  I take one exemption for myself.  In looking at my deductions, that have been updated for the new tax code, my federal tax withholding went up!  Deductions for federal tax went up by $149 for the latest two week pay period.  I am comparing more than apples to apples, as my gross pay for the current two-week pay period where I'm paying more federal taxes is actually $200 LESS than the previous pay period because of a small bonus.

 

Who can I write in Washington to thank them for this "incredible," I mean "huuuge" tax benefit?

 

 

 





#2 cv91915

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Posted 22 February 2018 - 08:39 AM

Whenever I want a raise I just change my exemptions!!!



#3 tiggerlgh

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Posted 22 February 2018 - 09:55 AM

Mine want down ( also make over 100k, 2 exemption, large company) but I made some other changes recently that would affect that as well as I didn’t want all my bonus this year going to my 401k so I dropped my contribution in the short term to my company match. Will have to look again once my contributions are back to normal.

Edited by tiggerlgh, 22 February 2018 - 10:12 AM.


#4 IndyPoolPlayer

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Posted 23 February 2018 - 06:23 PM

My Federal withholding did go down but my health insurance went up ... so the net is still down from last year. On top of that my deductible went to $10K.



#5 cv91915

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Posted 23 February 2018 - 08:34 PM

I got paid today, and my federal AND state income tax withholding went up substantially compared to two weeks ago.

I suspect that this might have something to do with the bonus I received, because the net pay was significantly higher too.

This math stuff is so confusing.

#6 hegemony

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Posted 23 February 2018 - 09:03 PM

not much of a change for us although at least DW's SS requirement for the year was met a few weeks ago.



#7 Cactus Flower

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Posted 24 February 2018 - 11:31 AM

Mine went down, it will mean $800 or so more a year ..

 

I won't get rich, but I won't turn it down

 

Sometimes there are advantages to not making much $$$



#8 Satmanshorty

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Posted 02 March 2018 - 03:41 PM

I saw that the 2018 Withholding Calculator is active now.  If it was already mentioned then I missed it.

 

https://apps.irs.gov...lator/index.jsp



#9 Big Bear

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Posted 08 March 2018 - 01:45 PM

Mine most certainly went down, but I also take zero exemptions and pay additional tax on top of that.  I assume the exemptions held the impact for you all claiming at least one?



#10 gregcjackson

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Posted 17 March 2018 - 06:23 AM

Mine stayed the same but I expect my actual taxes to increase slightly due to elimination of exemptions. I really dislike the way the "doubling of standard deduction" was sold.






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