January 8, 201016 yr Be prepared... Most people will see their take home amount slightly lower in 2010 vs 2009. The reason behind this is simple. When nearly all of us got tax cuts in 2009, under the stimulus, it amounted to approximately $400 per person. Because this law went into effect 3 months in 2009, the $400 per person credit was spread out over the remaining pay check periods in 2009. (9 months worth) So the credit is still in effect here in 2010, but now it's being spread out over 12 months worth of paychecks. (24 or 26 in total) Thus you are getting a lower tax cut more times in comparison to 2009. On my wife's first paycheck, it amounted to $7/check less.
January 8, 201016 yr QUOTE (jasonxctf @ Jan 8, 2010 -> 03:27 PM) Be prepared... Most people will see their take home amount slightly lower in 2010 vs 2009. The reason behind this is simple. When nearly all of us got tax cuts in 2009, under the stimulus, it amounted to approximately $400 per person. Because this law went into effect 3 months in 2009, the $400 per person credit was spread out over the remaining pay check periods in 2009. (9 months worth) So the credit is still in effect here in 2010, but now it's being spread out over 12 months worth of paychecks. (24 or 26 in total) Thus you are getting a lower tax cut more times in comparison to 2009. On my wife's first paycheck, it amounted to $7/check less. I will look for that, and blame you.
January 8, 201016 yr Author Hey it could be worse, you could be taking home the amount before the tax credit was added in 2009.
January 8, 201016 yr I got a 9.69% raise due to being grossly underpaid. Edited January 8, 201016 yr by JPN366
January 8, 201016 yr I'm looking forward to my increased health insurance premiums. Yummy. The 15th will be here soon.
January 10, 201016 yr Yeah, I just noticed that on my fiance's first paycheck of the year clearing it through Quicken this morning. Her's was only $5 less.
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