Ok, some one prove to me that this is wrong...
Earlier this year, those of us that work, got a slight pay increase. In my case it was like $25 a pay check.
Supposedly Uncle Sugar and the Obama Administration wanted to kick start the economy and in the 2nd stimulus package, there was a small line of law giving Joe Blow the worker a slight pay increase.
Now to my understanding, this was done by manipulating your personal with holdings, you know that pesky W-4 form you are supposed to fill out when you get hired! So in all actuality, the government is not giving you a tax break per se, they are letting you have more of your money upfront before you have to pay taxes on that same money in the spring. So, if you are a smart conservative type and manage your money well, Uncle Sam pulled a fast one on you! You should expect a slightly higher tax bill come April 15th even though you thought ahead and did what was the right thing to do.
No comments:
Post a Comment