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Discussion in 'Okie Memorial Area' started by okie, Jan 30, 2013.
I made about 1500 more dollars in 2012, other than that everything else is the same
May I go to Wendy's instead
In addition to the 2% increase in the payroll tax for SS back to its original 6% before Obungler and his band of thieves started messing with SS, there is another tax change. I am retired and my wife is still working. In the past few years we have used the HCRA, Health Care Reinbursement Account, where she is employed. Under the old rules for HCRA we could have up to $2500 each put into the account for a tolal of $5000 that would not be taxed. This year we are limited to a total of $2500 for the both of us. So that is another $800 in Federal income tax we have to pay and we also have to pay State income tax on the $2500. Feeling it in my shorts I am! Really feel sorry for a working parent with a spouse and 2-3 young kids that now can only set aside tax free the $2500 instead of the $5k.
I was going to say that too, Mark. Breaking even is the best deal. As John said, why give the .gov a loan every year.