+- CSNbbs (https://csnbbs.com)
+-- Forum: Active Boards (/forum-769.html)
+--- Forum: Lounge (/forum-564.html)
+---- Forum: The Spin Room (/forum-540.html)
+---- Thread: Here is a calculator to see how you might come out with new tax bill.... (/thread-837504.html)
RE: Here is a calculator to see how you might come out with new tax bill.... - Crebman - 12-18-2017 12:54 PM
(12-18-2017 11:22 AM)Fitbud Wrote: It says I would save almost $1000.
I wonder however how much Social Security and Medicare I will lose.
Fit, if you are a teachers as you say you are, you won't be getting SS anyway - aren't you part of TRS??
RE: Here is a calculator to see how you might come out with new tax bill.... - Fitbud - 12-18-2017 12:56 PM
(12-18-2017 12:54 PM)Crebman Wrote:(12-18-2017 11:22 AM)Fitbud Wrote: It says I would save almost $1000.
I wonder however how much Social Security and Medicare I will lose.
Fit, if you are a teachers as you say you are, you won't be getting SS anyway - aren't you part of TRS??
Yes but I worked for 11 years before that so I've earned my SS points.
RE: Here is a calculator to see how you might come out with new tax bill.... - Crebman - 12-18-2017 12:57 PM
(12-18-2017 12:56 PM)Fitbud Wrote:(12-18-2017 12:54 PM)Crebman Wrote:(12-18-2017 11:22 AM)Fitbud Wrote: It says I would save almost $1000.
I wonder however how much Social Security and Medicare I will lose.
Fit, if you are a teachers as you say you are, you won't be getting SS anyway - aren't you part of TRS??
Yes but I worked for 11 years before that so I've earned my SS points.
Small peanuts in your retirement years.......how much longer until you can retire and collect SS??
RE: Here is a calculator to see how you might come out with new tax bill.... - Fitbud - 12-18-2017 01:04 PM
(12-18-2017 12:57 PM)Crebman Wrote:(12-18-2017 12:56 PM)Fitbud Wrote:(12-18-2017 12:54 PM)Crebman Wrote:(12-18-2017 11:22 AM)Fitbud Wrote: It says I would save almost $1000.
I wonder however how much Social Security and Medicare I will lose.
Fit, if you are a teachers as you say you are, you won't be getting SS anyway - aren't you part of TRS??
Yes but I worked for 11 years before that so I've earned my SS points.
Small peanuts in your retirement years.......how much longer until you can retire and collect SS??
I'm supposed to be able to retire in 9 years but I would still be 10 years away from ss.
It's unclear whether or not I can still get SS. I've heard people in my situation have successfully won their rights to get SS but it's a long process.
RE: Here is a calculator to see how you might come out with new tax bill.... - Crebman - 12-18-2017 01:09 PM
(12-18-2017 01:04 PM)Fitbud Wrote:(12-18-2017 12:57 PM)Crebman Wrote:(12-18-2017 12:56 PM)Fitbud Wrote:(12-18-2017 12:54 PM)Crebman Wrote:(12-18-2017 11:22 AM)Fitbud Wrote: It says I would save almost $1000.
I wonder however how much Social Security and Medicare I will lose.
Fit, if you are a teachers as you say you are, you won't be getting SS anyway - aren't you part of TRS??
Yes but I worked for 11 years before that so I've earned my SS points.
Small peanuts in your retirement years.......how much longer until you can retire and collect SS??
I'm supposed to be able to retire in 9 years but I would still be 10 years away from ss.
It's unclear whether or not I can still get SS. I've heard people in my situation have successfully won their rights to get SS but it's a long process.
Honestly, if you have the credits to collect SS, my belief is that you contributed long enough - you should get it.
RE: Here is a calculator to see how you might come out with new tax bill.... - Lord Stanley - 12-18-2017 01:13 PM
I am, with all sincerity, greatly confused by people of any stripe or persuasion who are concerned with lower taxes.
If you want to give the government more money to help fund the services and programs you desire, whether that be services or programs that benefit you, or the poor, or the needy, or the down on their luck, well then you can do so - just write the government a check.
Please ensure your checks indicate "to support the bloated Federal Government" in the memo field.
Bureau of the Public Debt Department G P.O. Box 2188 Parkersburg, West Virginia 26106-2188
Plus, don't forget to file a simple 1040 and put the amount of your income, the amount of tax your owe, compute the difference, and pay at your full rate. This is very important.
RE: Here is a calculator to see how you might come out with new tax bill.... - Kaplony - 12-18-2017 01:32 PM
(12-18-2017 01:13 PM)Lord Stanley Wrote: I am, with all sincerity, greatly confused by people of any stripe or persuasion who are concerned with lower taxes.
If you want to give the government more money to help fund the services and programs you desire, whether that be services or programs that benefit you, or the poor, or the needy, or the down on their luck, well then you can do so - [b]just write the government a check.
[/b]
Please ensure your checks indicate "to support the bloated Federal Government" in the memo field.
Bureau of the Public Debt Department G P.O. Box 2188 Parkersburg, West Virginia 26106-2188
Plus, don't forget to file a simple 1040 and put the amount of your income, the amount of tax your owe, compute the difference, and pay at your full rate. This is very important.
Been beating that drum for years.
http://csnbbs.com/thread-795367-post-13713513.html#pid13713513
Post 51
http://csnbbs.com/thread-793649-post-13655956.html#pid13655956
Post 31
http://csnbbs.com/thread-770760-page-5.html
Post 44
So far none of our ultra-concerned leftists have been concerned enough to literally put their money where their mouth is.
I would say I'm shocked but Mama didn't raise a liar.
RE: Here is a calculator to see how you might come out with new tax bill.... - umbluegray - 12-18-2017 01:33 PM
It says I'll save $1,476 ($123/mth).
If I see ANY of that -- even a fraction -- it will be more than the PROMISED $2,000 per year saved per ObamaCare.
But who's counting?
RE: Here is a calculator to see how you might come out with new tax bill.... - Crebman - 12-18-2017 01:36 PM
(12-18-2017 01:13 PM)Lord Stanley Wrote: I am, with all sincerity, greatly confused by people of any stripe or persuasion who are concerned with lower taxes.
If you want to give the government more money to help fund the services and programs you desire, whether that be services or programs that benefit you, or the poor, or the needy, or the down on their luck, well then you can do so - just write the government a check.
Please ensure your checks indicate "to support the bloated Federal Government" in the memo field.
Bureau of the Public Debt Department G P.O. Box 2188 Parkersburg, West Virginia 26106-2188
Plus, don't forget to file a simple 1040 and put the amount of your income, the amount of tax your owe, compute the difference, and pay at your full rate. This is very important.
Ah, but here is where those folks are really coming from....they want someone else to pay more in taxes, but not them. It's why they always cry about the rich needing to pay more - it exempts them......
LS - we all knew that. The libs would be more honest if they just said - Hey Washington, create a tax policy that taxes everyone else more, but cuts my taxes...
RE: Here is a calculator to see how you might come out with new tax bill.... - solohawks - 12-18-2017 01:39 PM
How much extra does Warren Buffet voluntarily pay in taxes every year to make up for the fact that his poor secretary has to pay more than him?
RE: Here is a calculator to see how you might come out with new tax bill.... - Owl 69/70/75 - 12-18-2017 06:44 PM
(12-18-2017 01:39 PM)solohawks Wrote: How much extra does Warren Buffet voluntarily pay in taxes every year to make up for the fact that his poor secretary has to pay more than him?
And his poor secretary is hardly poor. She makes a couple hundred grand a year.
RE: Here is a calculator to see how you might come out with new tax bill.... - dawgitall - 12-19-2017 11:43 AM
(12-18-2017 12:54 PM)Crebman Wrote:(12-18-2017 11:22 AM)Fitbud Wrote: It says I would save almost $1000.
I wonder however how much Social Security and Medicare I will lose.
Fit, if you are a teachers as you say you are, you won't be getting SS anyway - aren't you part of TRS??
So in Texas teachers don't pay into Social Security? Must be one heck of a retirement pension plan.
RE: Here is a calculator to see how you might come out with new tax bill.... - Fitbud - 12-19-2017 11:46 AM
(12-19-2017 11:43 AM)dawgitall Wrote:(12-18-2017 12:54 PM)Crebman Wrote:(12-18-2017 11:22 AM)Fitbud Wrote: It says I would save almost $1000.
I wonder however how much Social Security and Medicare I will lose.
Fit, if you are a teachers as you say you are, you won't be getting SS anyway - aren't you part of TRS??
So in Texas teachers don't pay into Social Security? Must be one heck of a retirement pension plan.
It's not that great and NO generally, we don't get SS. However, I have teacher friends who earned SS before they became teachers and these people have successfully fought for their SS.
RE: Here is a calculator to see how you might come out with new tax bill.... - solohawks - 12-19-2017 11:52 AM
(12-19-2017 11:46 AM)Fitbud Wrote:(12-19-2017 11:43 AM)dawgitall Wrote:(12-18-2017 12:54 PM)Crebman Wrote:(12-18-2017 11:22 AM)Fitbud Wrote: It says I would save almost $1000.
I wonder however how much Social Security and Medicare I will lose.
Fit, if you are a teachers as you say you are, you won't be getting SS anyway - aren't you part of TRS??
So in Texas teachers don't pay into Social Security? Must be one heck of a retirement pension plan.
It's not that great and NO generally, we don't get SS. However, I have teacher friends who earned SS before they became teachers and these people have successfully fought for their SS.
Wait
Fit doesn't pay social security tax?????
RE: Here is a calculator to see how you might come out with new tax bill.... - UofMstateU - 12-19-2017 12:06 PM
(12-19-2017 11:52 AM)solohawks Wrote:(12-19-2017 11:46 AM)Fitbud Wrote:(12-19-2017 11:43 AM)dawgitall Wrote:(12-18-2017 12:54 PM)Crebman Wrote:(12-18-2017 11:22 AM)Fitbud Wrote: It says I would save almost $1000.
I wonder however how much Social Security and Medicare I will lose.
Fit, if you are a teachers as you say you are, you won't be getting SS anyway - aren't you part of TRS??
So in Texas teachers don't pay into Social Security? Must be one heck of a retirement pension plan.
It's not that great and NO generally, we don't get SS. However, I have teacher friends who earned SS before they became teachers and these people have successfully fought for their SS.
Wait
Fit doesn't pay social security tax?????
He should have to pay it, even if he elects to use another form of retirement. He also shouldnt be entitled to SS. Just pay into it. That way, it can mimic the stupidity of our education system where I must pay into the public system, even if I want to put my kids in a private school.
RE: Here is a calculator to see how you might come out with new tax bill.... - dawgitall - 12-19-2017 12:08 PM
(12-19-2017 11:46 AM)Fitbud Wrote:(12-19-2017 11:43 AM)dawgitall Wrote:(12-18-2017 12:54 PM)Crebman Wrote:(12-18-2017 11:22 AM)Fitbud Wrote: It says I would save almost $1000.
I wonder however how much Social Security and Medicare I will lose.
Fit, if you are a teachers as you say you are, you won't be getting SS anyway - aren't you part of TRS??
So in Texas teachers don't pay into Social Security? Must be one heck of a retirement pension plan.
It's not that great and NO generally, we don't get SS. However, I have teacher friends who earned SS before they became teachers and these people have successfully fought for their SS.
I knew some federal employees have a fund separate from SS and don't pay in but didn't realize there were others. I've been paying in for the last 45 years and hope to be able to wait until I'm 67 or older to start drawing it in order to get 100% or better. Many argue that it is best to start getting ASAP with reduced benefit given that you might not live long enough to make up for the five or so years of not getting anything.
The NC state retirement is decent, between 50-60% of your best 4 consecutive years depending on several factors. You can take less and when you die your spouse can continue getting it. The longer you work beyond the 30 years the more you get as well. So a 40 year retiree gets more than someone that goes out at 30. I hope to get in 36 and retire at 62.
RE: Here is a calculator to see how you might come out with new tax bill.... - UTSAMarineVet09 - 12-19-2017 12:11 PM
Quote:The vast majority of Texas school districts do not participate in Social Security, so employees in those districts are entitled to Social Security benefits only if they paid into that system through other employment (for at least 40 quarters) or through their spouses. However, federal law reduces, or in some cases eliminates, the amount of Social Security benefits received in those situations.
https://tcta.org/node/11506-social_security_benefits
RE: Here is a calculator to see how you might come out with new tax bill.... - Lord Stanley - 12-19-2017 12:16 PM
I believe, but am not certain, that there are quite a few states that use a Teacher Retirement System in lieu of Social Security for retirement. I know IL and MN does, for certain.
Also, read about the RRB for an interesting history lesson on non-Social Security retirement funds: https://en.wikipedia.org/wiki/Railroad_Retirement_Board
RE: Here is a calculator to see how you might come out with new tax bill.... - dawgitall - 12-19-2017 12:17 PM
(12-19-2017 12:11 PM)UTSAMarineVet09 Wrote:Quote:The vast majority of Texas school districts do not participate in Social Security, so employees in those districts are entitled to Social Security benefits only if they paid into that system through other employment (for at least 40 quarters) or through their spouses. However, federal law reduces, or in some cases eliminates, the amount of Social Security benefits received in those situations.
https://tcta.org/node/11506-social_security_benefits
This would seem to be a big deterrent for teacher recruitment.
RE: Here is a calculator to see how you might come out with new tax bill.... - UofMstateU - 12-19-2017 12:18 PM
(12-19-2017 12:17 PM)dawgitall Wrote:(12-19-2017 12:11 PM)UTSAMarineVet09 Wrote:Quote:The vast majority of Texas school districts do not participate in Social Security, so employees in those districts are entitled to Social Security benefits only if they paid into that system through other employment (for at least 40 quarters) or through their spouses. However, federal law reduces, or in some cases eliminates, the amount of Social Security benefits received in those situations.
https://tcta.org/node/11506-social_security_benefits
This would seem to be a big deterrent for teacher recruitment.
Unions have consequences.