New Tax Law Takes Effect

AANOTOK

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Oct 10, 2009
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Ok, so this paycheck is suppose to be the one we see a difference in the New Tax Law.
After comparing this paycheck I am to receive on 2-23 to the one deposited on 1-26,
I grossed the same amount on a 80 hour pay period. My difference in take home is a plus $126.
Now, is this just a tax adjustment, or can I expect an additional $252 monthly on a 80 hours x 2.
I'm gonna guess it was an adjustment for the whole month of Feb and in reality $63 extra per
80 hours is my real tax savings...
 
I believe that our Compensation vs Taxation Bracket was going to come out neutral.
It is those in Lower Income areas that will show a better ratio. After all we are rich.
 
Don't know how AA is doing it, but with my employer, the only difference I saw for February was a change in the federal withholding amount. There was no adjustment for January, nor would I expect them to bother since you'll get it back on your return.

My crumbs went directly towards my 401K contribution so I could max out my match. No sense spending money I was already used to not spending in the first place...
 
Don't know how AA is doing it, but with my employer, the only difference I saw for February was a change in the federal withholding amount. There was no adjustment for January, nor would I expect them to bother since you'll get it back on your return.

My crumbs went directly towards my 401K contribution so I could max out my match. No sense spending money I was already used to not spending in the first place...


Exactly. I very much doubt they’ll backtrack and withhold less this first check to make up for prior weeks.

And I also raised my 401k contribution by another 2% since I didn’t need it bringing me to 22% plus our current 5.5% Match.
 
Ok, so this paycheck is suppose to be the one we see a difference in the New Tax Law.
After comparing this paycheck I am to receive on 2-23 to the one deposited on 1-26,
I grossed the same amount on a 80 hour pay period. My difference in take home is a plus $126.
Now, is this just a tax adjustment, or can I expect an additional $252 monthly on a 80 hours x 2.
I'm gonna guess it was an adjustment for the whole month of Feb and in reality $63 extra per
80 hours is my real tax savings...

Looks like they adjusted the withdrawals from the beginning of the year which gives the illusion of a much larger return to us.

On the 2/23 check, there is a withdrawal amount which shows no accumulation on the YTD side.

If you take that amount and divide it by 3, then it should be the difference between the withholding from a similar check with the same gross and the new tax withholding from the 2/23 check.
 
I believe the rate change occurred on Feb 15th. Which makes sense to what is being said.
Some AA mechanics on Facebook are discussing the same thing.
 
AA did make some kind of adjustment. I had two withholding entries. One was a credit for a small amount, and the other was a debit that was around my regular amount. If it is only a one check adjustment, then it should be a noticeable amount although I did have a lot of extra hours on this check which probably made a big difference. My next check should be closer to normal and I might have a better idea of what the amount will be.
 
It doesn't really matter what AA takes out of each paycheck because most pilots and flight attendants that itemized will pay more taxes next year due to the loss of deducting business expense and capping local tax deductions at $10,000. Flightax does my taxes and this year I got back $748 and they forecast that I will actually have to pay $350 next year if I make the same amount of money. So, thanks to the Republicans I can expect to pay $1000 more a year so corporations and the wealthy can get a pay cut.
 
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It doesn't really matter what AA takes out of each paycheck because most pilots and flight attendants that itemized will pay more taxes next year due to the loss of deducting business expense and capping local tax deductions at $10,000. Flightax does my taxes and this year I got back $748 and they forecast that I will actually have to pay $350 next year if I make the same amount of money. So, thanks to the Republicans I can expect to pay $1000 more a year so corporations and the wealthy can get a pay cut.

I agree they are not friends of labor. At least labor is waking up as shown in the recent special election where they tipped the scales back to a truly labor friendly candidate.
 
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I agree they are not friends of labor. At least labor is waking up as shown in the recent special election where they tipped the scales back to a truly labor friendly candidate.

True.

I'm in the 18th District. In one of Saccone's attack ads, he claimed Conor Lamb called Trumps tax cuts "crumbs".

I guess Lamb was right because the Steel Workers Union and Mine Workers Union both overwhelming supported Lamb.

Don't forget your $1000 check.
 
I can't really see or feel the difference. We found out that the law went into effect, because they held back our PS checks till the end of the month, and the withholding rate was changed from 25% to 22%. I was trying to calculate how much from my bi-weekly paychecks how much I would gain. To me IMHO, it is negligible. My issue is the end of the SALT deduction. That will definitely eat any gains that this so called tax cut will bring. Some will gain, but I feel that most will lose with this scheme. I will be paying more, no doubt, and like many others, rushed to pay my property taxes before changes went into effect.
 
I can't really see or feel the difference. We found out that the law went into effect, because they held back our PS checks till the end of the month, and the withholding rate was changed from 25% to 22%. I was trying to calculate how much from my bi-weekly paychecks how much I would gain. To me IMHO, it is negligible. My issue is the end of the SALT deduction. That will definitely eat any gains that this so called tax cut will bring. Some will gain, but I feel that most will lose with this scheme. I will be paying more, no doubt, and like many others, rushed to pay my property taxes before changes went into effect.

I agree. I am not sure how much of a benefit average earners will see.