tag:blogger.com,1999:blog-1233623794741521754.post8714270856142053075..comments2023-10-26T05:29:26.026-04:00Comments on Sallie's Niece: $14k = $7k After Taxes?Sallie's Niecehttp://www.blogger.com/profile/03662769521869035227noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-1233623794741521754.post-67915539078589856032008-05-16T19:37:00.000-04:002008-05-16T19:37:00.000-04:00Try paycheckcity.com to get an accurate idea of yo...Try paycheckcity.com to get an accurate idea of your paycheck. It always works for me to the penny!gypsytravelerhttps://www.blogger.com/profile/05630588228780535439noreply@blogger.comtag:blogger.com,1999:blog-1233623794741521754.post-2764671553972246832008-05-14T08:09:00.000-04:002008-05-14T08:09:00.000-04:00WOW, is my comment. I just stopped by your blog, l...WOW, is my comment. I just stopped by your blog, luv it.Lez<3 Louhttps://www.blogger.com/profile/10858504088108319615noreply@blogger.comtag:blogger.com,1999:blog-1233623794741521754.post-18276340759510040532008-05-13T20:17:00.000-04:002008-05-13T20:17:00.000-04:00Hey Jim you got me so confused! I currently have ...Hey Jim you got me so confused! I currently have a pension (not a 401k). About 90 bucks is taken out of my paychecks twice a month because I am not vested yet. <BR/><BR/>The new job does not offer a pension. They probably offer a 401k, not sure. Are you saying I'm better off with my current salary then moving elsewhere?<BR/><BR/>Career wise I am seeking a change. I guess it's too early to speculate yet (still need to get an interview!) but before I fill out my next W-2 I may come looking for help!Sallie's Niecehttps://www.blogger.com/profile/03662769521869035227noreply@blogger.comtag:blogger.com,1999:blog-1233623794741521754.post-73097983441570380932008-05-13T17:35:00.000-04:002008-05-13T17:35:00.000-04:00You may feel as though you're being taxed more, bu...You may feel as though you're being taxed more, but you're actually giving the government more money most likely. I try to avoid getting a large tax return because that would be loaning the government money I could use now. Try to bump up the amount of your withholding based on how much interest you could deduct for your student loans, $2500 is the cap on that. I bet you could keep an extra $200 a month if you do it right.<BR/><BR/>The other things throwing your numbers off are the items taken out pre-tax. A pension isn't funded by you, just the company, most likely you're referring to a 401k (company can match you) which you can make contributions. Any insurance, health, dental, vision, life, comes out pre-tax too. This reduces your tax liability a little bit.<BR/><BR/>I see an advantage of staying in the lower tax brackets while you can with your student loan debt. There are income limits that will knock out that deduction. You may be happy with an extra $600-1k a month right now, but I'm sure you'll get bumped one day into the high tax brackets. Obviously it would make sense to pay off your student loans quickly before you make the big bucks and the IRS really takes a cut of it. How cool would it be to have a large income with no debt? The more you make the more they take, this is why we need the FairTax!Jim ~ mydebtblog.comhttps://www.blogger.com/profile/12831157334066115572noreply@blogger.com