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Dleg

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At least Ginger is still alive. 


 

JayKay PE

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A tail would mean a new place for ink. #ijs 😁
This...is very true.  I didn't get anything done last year, but if I grow a tail, I could potentially get some new art.  I really do want to try and get another piece sometime in 2021, but I want to aggressively pay down some debt to try and be totally debt-free before the end of 2021.  It's...doable, I think.

 

jeb6294

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I wondered what was going to happen when all those people who were just happy to have bigger paychecks the last couple months of 2020 were going to do when their first few months on 2021 were suddenly a lot lower.

Everyone was sooo happy because they quit taking SS tax from paychecks, but nobody looked at the fine print saying it was only deferred and that they would be doubling down to recoup starting the first of the year.

Just got an email saying that they're going to spread it out over the whole year rather than Jan. thru Apr.

 

JayKay PE

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I wondered what was going to happen when all those people who were just happy to have bigger paychecks the last couple months of 2020 were going to do when their first few months on 2021 were suddenly a lot lower.

Everyone was sooo happy because they quit taking SS tax from paychecks, but nobody looked at the fine print saying it was only deferred and that they would be doubling down to recoup starting the first of the year.

Just got an email saying that they're going to spread it out over the whole year rather than Jan. thru Apr.
Yeah, I saw that.  I've been socking away what my previous OASDI was per paycheck, pretty much just keeping the same paycheck I had previously.  I do like that it has been spread over the whole year, and that they're going to have a collection amount remaining on each paycheck, but I wish there was just a way to pay it back directly if you have the funds.  I just don't want to deal with a corrected W-2 (I have no idea what I need to do with that).

My first paycheck is gonna be super wonky because I got different insurance, I upped some 401k stuff, changed my HSA amount, and now the OASDI is getting put back in.  Can't wait until Wednesday to see the damage before it hits my account.

 

jean15paul_PE

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I wondered what was going to happen when all those people who were just happy to have bigger paychecks the last couple months of 2020 were going to do when their first few months on 2021 were suddenly a lot lower.

Everyone was sooo happy because they quit taking SS tax from paychecks, but nobody looked at the fine print saying it was only deferred and that they would be doubling down to recoup starting the first of the year.

Just got an email saying that they're going to spread it out over the whole year rather than Jan. thru Apr.
Really? I thought the fact that the tax was deferred was pretty well publicized. I'm curious was percentage of companies chose to participate? The cons of deferring the tax seemed to pretty clearly outweigh the pros in my opinion. (My company did not participate; I'm glad.)

 
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jeb6294

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TBH, my guess is that they figured everybody would be happy to have a bigger paycheck and then when the doo doo hot the fan at the first of the year people would be getting their stimulus checks to offset the difference.

 

NJHHEngineer

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Really? I thought the fact that the tax was deferred was pretty well publicized. I'm curious was percentage of companies chose to participate? The cons of deferring the tax seemed to pretty clearly outweigh the pros in my opinion. (My company did not participate; I'm glad.)
If my memory serves me right, I think my company gave us the option to participate if we so please.  I did not personally, as I agree the cons outweighed the pros.

It was well publicized but you're also banking on the knowledge of the masses.  Who actual read what the deal was (deferred tax) vs. who heard NO TAXES SHUTTUP AND (DON'T) TAKE MY MONEY. Probably the same people who simply read the clickbait media article headlines and look at the pretty pictures without actually taking the time to read the article itself...

 

jean15paul_PE

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Oh. I did not realize that it could be an individual decision. I thought it had to be company wide. I trust company HR departments to be better informed than the average Joe. I absolutely see how an individual could be uninformed and/or make a bad decision.

 

jeb6294

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Maybe it's just because I work for the Gub-mint. I'd imagine they sent out an email about it, but it probably got lost in all the other nonsense emails that show up on a daily basis and go straight to the trash bin. Regardless of any email I may have gotten, I'd already heard about it but didn't much thought into it until my first check showed up that was a few hundred bigger. 

 

JayKay PE

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Really? I thought the fact that the tax was deferred was pretty well publicized. I'm curious was percentage of companies chose to participate? The cons of deferring the tax seemed to pretty clearly outweigh the pros in my opinion. (My company did not participate; I'm glad.)
From what I've heard, a majority of companies did NOT participate.  Since there was the potential loss of funds if the employee left (which means the company might be on the hook to repay the taxes if the employee doesn't pay them), a lot of companies left well enough alone and didn't change anything.  

Unfortunately, the entirety of the federal employment were deferred unless you made over $4k a pay period (I think?).  So.  I think something like 60% of all federal employees were forced into this.  And we weren't allowed to opt out.  Because Trump didn't want us to/ordered OPM to do it.

 
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jeb6294

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I'll admit, it was nice getting a little extra $$$ right there around Christmas time.

Another nice thing will be getting all of my local taxes back. Since I work downtown they take out Cincinnati city taxes but you can file for a refund for days that you weren't actually working downtown. Our house isn't within city limits so that's usually just days off and travel days. With us working from home pretty much the whole year, I should be able to get all of it back. The Mayor has already been bitching about how bad COVID has been for the city, but between people working from home or not working at all, I can't imagine what kind of shit fit he'll have when their income taxes go down the toilet.

 
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