So how many of u Yankis on here

[Wahalla]

on the board will be affected by the new high tax at 450000 ?

any one ah unno gi me a smalls....

I assume that Blakstar will be in the 75% tax bracket in france as she earns over 1 million Euros! Or is she moving to Belgium like Gerald Deparduie ?

[Blackstar*]

on the board will be affected by the new high tax at 450000 ?

any one ah unno gi me a smalls....

I assume that Blakstar will be in the 75% tax bracket in france as she earns over 1 million Euros! Or is she moving to Belgium like Gerald Deparduie ?

I'm in the 50% tax bracket (last time I checked) and it looks like Hollande wants to raise rates.

[Wahalla]

I'm in the 50% tax bracket (last time I checked) and it looks like Hollande wants to raise rates.

He cut his salary... And he introduced the 75% rate though the ...I think the Jamaica PM takes home 12 million Jamaican Dollars....UK cut the top rate from 50-45%...

[kia027]

The $250K line was too low..Lots of people who live in high cost of living states receive higher wages to maintain a standard of living that could be achieved for $100K somewhere else. so $250K in NY/DC/N VA/So CA, etc will still have you living cramped while it would be living large in Little Rock AR

[RichD]

The $250K line was too low..Lots of people who live in high cost of living states receive higher wages to maintain a standard of living that could be achieved for $100K somewhere else. so $250K in NY/DC/N VA/So CA, etc will still have you living cramped while it would be living large in Little Rock AR

wasnt it marginal rate? ..the rate only kicks in above 250K so a person making 300K would only have seen a a $1000 tax increase..somebody making $260K would only have seen $200 increase

[Blackstar*]

RichD, I think all the tax rates mentioned in this thread are marginal.

[Wahalla]

I'm in the 50% tax bracket (last time I checked) and it looks like Hollande wants to raise rates.

u see Gerald Depraduie is now a Russian citizen.. on 13 % tax.....

[lonewolf]

Despite fiscal cliff deal, taxes to rise for most Americans

The expiration of a two-year payroll tax cut means that someone earning $50,000 will pay $1,000 more a year in federal taxes.

WASHINGTON (AP) — While the tax package that Congress passed New Year's Day will protect 99 percent of Americans from an income tax increase, most of them will still end up paying more federal taxes in 2013.
That's because the legislation did nothing to prevent a temporary reduction in the Social Security payroll tax from expiring. In 2012, that 2-percentage-point cut in the payroll tax was worth about $1,000 to a worker making $50,000 a year.
The Tax Policy Center, a nonpartisan Washington research group, estimates that 77 percent of American households will face higher federal taxes in 2013 under the agreement negotiated between President Barack Obama and Senate Republicans. High-income families will feel the biggest tax increases, but many middle- and low-income families will pay higher taxes too.
Households making between $40,000 and $50,000 will face an average tax increase of $579 in 2013, according to the Tax Policy Center's analysis. Households making between $50,000 and $75,000 will face an average tax increase of $822.


Read more: http://www.nydailynews.com/news/nati...#ixzz2H6xQxE7U

http://www.nydailynews.com/news/national/payroll-tax-rise-article-1.1231335

[My Looh]

Sorry. I have no sympathy for anyone living in the U.S.A. complaining about paying higher taxes. Try living up here in Canada for a bit and you will see what high taxes are. Land transfer taxes, property taxes, income taxes, sin taxes (taxes on alcohol and tobacco), gas taxes, consumption /sales taxes, taxes on capitol gains... on and on.

[Blackstar*]

Sorry. I have no sympathy for anyone living in the U.S.A. complaining about paying higher taxes. Try living up here in Canada for a bit and you will see what high taxes are. Land transfer taxes, property taxes, income taxes, sin taxes (taxes on alcohol and tobacco), gas taxes, consumption /sales taxes, taxes on capitol gains... on and on.

Americans get what they pay for in public services and infrastructure. If you ever see the state of the roads in places like Mississippi and Louisiana you would never believe you're not in a third world country.

[Blackstar*]

u see Gerald Depraduie is now a Russian citizen.. on 13 % tax.....

Good! He can carry on with his film career up there too. 13% of nothing might not look like such a great deal after all.

[lonewolf]

Americans get what they pay for in public services and infrastructure. If you ever see the state of the roads in places like Mississippi and Louisiana you would never believe you're not in a third world country.

That's total BS.

[Blackstar*]

This is what has been communicated to US staff at my company.

Actions taken by the U.S. government in 2012 means U.S. employees will notice changes to their first paychecks of 2013.
At the beginning of the new year, the U.S. government passed legislation to manage the 2013 tax agreement (the end-of-year expiration of temporary tax and spending cuts. If you are a U.S. employee, your upcoming paycheck will reflect these recent agreements:

• In 2013, the Social Security tax (FICA) will revert to the historic withholding rate of 6.2% (from 4.2% in 2012) on the first $113,700 of earned income for 2013.

• If you receive supplemental income (payments outside of normal hourly or wage income, i.e. commissions), tax on that income will decrease from 28% to 25%. (This withholding amount will not impact your ultimate tax rate calculated when you complete your 2013 tax return.)

Future paychecks may be adjusted as the agreements evolve. We will share any new details that come forth.

Affordable Care Act
Additionally in 2013, the Affordable Care Act will increase the employee portion of Medicare taxes by .9% (from 1.45% to 2.35%) for taxpayers whose wages exceed the following amounts:

• $250,000 for those who are married and file jointly

• $125,000 for those who are married and file separately

• $200,000 for all others (including single filers)

Under IRS rules, Thomson Reuters will be required to withhold the additional Medicare tax on the portion of your wages (if any) that exceeds $200,000, regardless of your filing status. Therefore, in addition to the 1.45% Medicare tax withheld from each dollar of your wages, Thomson Reuters will withhold .9% from each dollar of your wages over $200,000.

Married employees may wish to take action
If you are married and file taxes jointly with your spouse, you may want to adjust your withholding, as there is a chance that your combined Medicare tax liability may exceed your combined withholding.

For example, if your own wages equal $160,000 and your spouse’s wages equal $100,000, neither Thomson Reuters nor your spouse’s employer will withhold the additional Medicare tax (because neither of your wages exceeds the $200,000 withholding threshold). But when you file your Form 1040 for the year (assuming you file jointly) you will owe the .9% tax on $10,000 (the amount by which your combined wages exceed $250,000). If you are in this situation, you (or your spouse) might want to consider increasing your withholding (using Form W-4) so you won’t be under-withheld and owe taxes at the end of 2013.