CurlTalk

How are the tax changes going to effect you?

I'm worried about the tax changes and the change in healthcare effecting my job. I worked for a small company that does take in 250+(barely breaking even each year) a year but we struggle to make payroll every two weeks. We do ambulance billing and rely on insurance payments to be able to stay afloat. My employer will have to 1)pay more taxes 2) do we stand to lose $ if the current system is revamp?

Medicare and Medicaid are paid for my payroll taxes and they are a separate department. I wonder about private healthcare like Blue Cross Blue Shield and companies like them.
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Comments

  • MizKerriMizKerri Posts: 1,701Registered Users
    The 250 would have to be net income/profit, not 250 in revenue for the tax plan to effect you, if I understand it correctly. If you are barely breaking even, then your net income wouldn't be much over 0, would it?
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  • SystemSystem Posts: 39,059 Administrator
    Ok, thank you.

    The numbers are above $250 k but I don't know the exact dollar that the company takes in but I know that there are some weeks my employer has had to get payroll loans because the profits just weren't there to meet payroll and all other expenses.

    Bush's tax breaks for business do not expire until 2010. This is one of the things that time will tell.
  • SystemSystem Posts: 39,059 Administrator
    I am finding sources that say you will pay more taxes if you make a profit of $250k or more and other places saying anyone bringing in a total income of $250k or more. This applies to business owners and individuals making that income or above.

    Anyone else care to weigh in on this?

    Or how will you benefit from this tax increase?

    I'm interested in different points of view - peaceful on both sides - please share.
  • CurlyGina2CurlyGina2 Posts: 1,048Registered Users
    Nothing has been passed yet. Calm down.
  • RedCatWavesRedCatWaves Posts: 31,258Registered Users
    Obama doesn't want to put small business out-of-business. I really doubt you have much to worry about with tax increases. Before any taxes are raised, you'll hear a lot more about it as it goes through government proceedings. Obama can't just say it and make it so.

    I know you've said you listen to Limbaugh regularly, so, honestly, if you turn the dial away occasionally, the world will look much less scary. That hate radio stuff is meant to scare you. That's how they wash your brain...with fear.
  • Myradella3Myradella3 Posts: 2,481Registered Users
    I'm a poor college prof so my taxes will probably down. I'm so far under $250K that I have little or nothing to worry about.
  • A_la_Nap-turalA_la_Nap-tural Posts: 409Registered Users
    Myradella3 wrote: »
    I'm a poor college prof so my taxes will probably down. I'm so far under $250K that I have little or nothing to worry about.

    Same here. I don't even make 40K, and let's not even do the math on how much of that is left after the bills. I'm not worried. But it is a proven fact that when money is distributed within the middle class, it works it's way up and makes for a more stable economy. Shaving a little off the top from the rich isn't all that bad. It's much better than distributing the money to the rich and expecting it to trickle down. We know that doesn't work....
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  • CocoaCoilyCocoaCoily Posts: 2,648Registered Users
    Jeez, people are going to start jumping out of windows soon, it seems.
  • nikkidanniellnikkidanniell Posts: 235Registered Users
    CocoaCoily wrote: »
    Jeez, people are going to start jumping out of windows soon, it seems.


    errr uhhh yeah... let's give Bush an opportunity to get his ISH out the White house before we start worrying about what may or may not happen..sheesh
  • misspammisspam Posts: 5,318Registered Users
    I have heard 3 different figures from Obama/Biden.

    250k
    200k
    150k

    Which one are we to believe? I don't know. Time will tell whether or not the new administration will have any success passing their agenda.
    [SIGPIC][/SIGPIC]
  • curlyarcacurlyarca Posts: 8,449Registered Users
    Curious: are there a lot of posters here that make upwards of 150k? 200k? 250k?

    If you do, I need to know what you do, so I can get some of that.

    Sincerely,

    Someone who makes WAY LESS than 150,000/annum

    "In the depth of winter, I finally learned that within me there lay an invincible summer."

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  • southrncurlssouthrncurls Posts: 152Registered Users
    My husband is going to end up loosing his job. Thanks Obama!
    [SIGPIC][/SIGPIC]3B
    Beginner CG.
    Currently using; MOP C-System Hydrating Conditioner (once a week), Aloeba Conditioner,CHS Curl Keeper, Jessicurl RR and CCSS, KBB Hair Milk (Sometimes)
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  • MimsTXMimsTX Posts: 3,482Registered Users Curl Neophyte
    curlyarca wrote: »
    Curious: are there a lot of posters here that make upwards of 150k? 200k? 250k?

    If you do, I need to know what you do, so I can get some of that.

    Sincerely,

    Someone who makes WAY LESS than 150,000/annum

    lmao, I'm right there with ya.

    And in all honesty, I would wait to see what ACTUALLY gets passed before starting to panic. How often to candidates promise one thing just to have it shot down in Congress later on? Or changed/varied from the original text.
    CG/Mod CG (soap bars) since 8/12/08
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  • CocoaCoilyCocoaCoily Posts: 2,648Registered Users
    What's funny is that among high income earners, more of us voted for Obama than McCain.
  • ScrappyTamScrappyTam Posts: 470Registered Users
    My husband is going to end up loosing his job. Thanks Obama!

    Hmmm...Obama hasn't even been sworn in yet and it's HIS fault that your hubby is going to lose his job??
    I almost threw my ovaries at him. - Trenell


    avatar136370_12.gif
  • SystemSystem Posts: 39,059 Administrator
    Obama doesn't want to put small business out-of-business. I really doubt you have much to worry about with tax increases. Before any taxes are raised, you'll hear a lot more about it as it goes through government proceedings. Obama can't just say it and make it so.

    I know you've said you listen to Limbaugh regularly, so, honestly, if you turn the dial away occasionally, the world will look much less scary. That hate radio stuff is meant to scare you. That's how they wash your brain...with fear.

    I'm concerned but not freaking out. I listen to Rush, watch CNN, Fox, NBC, and a lot of other people and stations. I don't take Rush's word as the final authority - his is just one person's opinion.

    I admit my ignorance on a lot of subjects and I think I'm overloading my brain trying to plan catch up with several years worth of info.

    I know the President doesn't have the authority to just do something, it has many legislative processes to go through. Pres. Obama isn't going to be able to keep all his promises and he's going to have to compromise on other issues.

    I'm interesting in other people's opinion *and* I'm concerned how other/all people will be effected.
  • StephSStephS Posts: 352Registered Users
    My husband is going to end up loosing his job. Thanks Obama!

    Does he work for a defense contractor?
  • A_la_Nap-turalA_la_Nap-tural Posts: 409Registered Users
    ScrappyTam wrote: »
    My husband is going to end up loosing his job. Thanks Obama!

    Hmmm...Obama hasn't even been sworn in yet and it's HIS fault that your hubby is going to lose his job??

    My thoughts exactly. Fear: such a powerful tool.
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    "And if you don't want to be down with me, you don't want to pick from my appletree."-Erykah Badu


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  • misspammisspam Posts: 5,318Registered Users
    curlyarca wrote: »
    Curious: are there a lot of posters here that make upwards of 150k? 200k? 250k?

    If you do, I need to know what you do, so I can get some of that.

    Sincerely,

    Someone who makes WAY LESS than 150,000/annum

    What would it matter how many posters here make the above quoted figures? The fact is, making that kind of money when you're trying to raise a family, trying to decide how you're going to pay for your kids college education, and saving for retirement with a comfortable nest egg, is not a whole heck of a lot of money.

    I guess most people would assume that we have it made. I'm here to tell you that it ain't necessarily so. And it's not as if we were always making such a nice income. My husband works his a** off, providing 3 separate sources of income and even we have a difficult time wondering how we are going to get it all done and still reach retirement without going broke.

    The more you make, the more they take. When you add in federal, state and all the other taxes, we are quite close to the 50% tax bracket.
    [SIGPIC][/SIGPIC]
  • mailgirlmailgirl Posts: 451Registered Users
    My husband is going to end up loosing his job. Thanks Obama!
    Do you positively know this!?
    3a/3b/3c/36D


    May the hair gods shine on me (and you!).

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  • southrncurlssouthrncurls Posts: 152Registered Users
    mailgirl wrote: »
    My husband is going to end up loosing his job. Thanks Obama!
    Do you positively know this!?

    YES!
    [SIGPIC][/SIGPIC]3B
    Beginner CG.
    Currently using; MOP C-System Hydrating Conditioner (once a week), Aloeba Conditioner,CHS Curl Keeper, Jessicurl RR and CCSS, KBB Hair Milk (Sometimes)
    Hopelessly Devoted to: My diffuser
    Northern New Jersey by way of the South.

    "In a perfect world every dog would have a home and every home would have a dog."
  • A_la_Nap-turalA_la_Nap-tural Posts: 409Registered Users
    mailgirl wrote: »
    My husband is going to end up loosing his job. Thanks Obama!
    Do you positively know this!?

    YES!

    And how exactly did Obama play a part in this, seeing as how he's yet to hold the power to make national laws? I think you've been Palinized.
    www.thenaturalknowitall.com

    www.mixology101.ning.com
    I'm luvin' my natural self FIRST! :love7:

    "And if you don't want to be down with me, you don't want to pick from my appletree."-Erykah Badu


    event.png


  • MimsTXMimsTX Posts: 3,482Registered Users Curl Neophyte
    mailgirl wrote: »
    My husband is going to end up loosing his job. Thanks Obama!
    Do you positively know this!?

    YES!

    erm... would you care to explain or elaborate?
    CG/Mod CG (soap bars) since 8/12/08
    CO wash/Cond: Kathymack & Flowermoon Castille soap bars, V05 Chamomile Tea, Suave Ocean Breeze, Biolage Conditioning Balm
    Styling loves: DIFFUSING! CK, KCNT, KCCC, FOTE (on dry hair only), Re:coil, Proclaim gel
    Not sure about: Boots, Tweek, KBB Milk, DMHJ
    HATE: plopping, FOTE on wet hair, BRHG
  • MichelleBFTMichelleBFT Posts: 4,812Registered Users
    mailgirl wrote: »
    My husband is going to end up loosing his job. Thanks Obama!
    Do you positively know this!?

    YES!


    Then why have you not answered any of the people who've asked how you can positively know that he will a) lose his job or b) that he will lose his job, especially because of a man that hasn't even been sworn into office yet?

    Unless you just have some wicked powerful crystal ball, I don't know where you're getting your information from.
    "And politically correct is the worst term, not just because it’s dismissive, but because it narrows down the whole social justice spectrum to this idea that it’s about being polite instead of about dismantling the oppressive social structure of power.
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  • mailgirlmailgirl Posts: 451Registered Users
    Please, give us your source of information...if it is accurate then we can agree...
    3a/3b/3c/36D


    May the hair gods shine on me (and you!).

    My silly veggie blog: vegefattien
  • mailgirlmailgirl Posts: 451Registered Users
    My husband is going to end up loosing his job. Thanks Obama!

    Well, he could move to Alaska and work for Sarah Palin!
    3a/3b/3c/36D


    May the hair gods shine on me (and you!).

    My silly veggie blog: vegefattien
  • RedCatWavesRedCatWaves Posts: 31,258Registered Users
    CocoaCoily wrote: »
    What's funny is that among high income earners, more of us voted for Obama than McCain.


    That's true. My husband makes $250+ and we voted Obama. He also has a small business. If our taxes go up, it will be worth it to have good paying jobs stay HERE in the USA, rather than overseas. It will be worth it to have more respect in the rest of the world. It will be worth it to get the HELL out of two wars. It will be worth it to become environmentally friendly and energy independent. It will be worth it not to saddle our grandchildren with $50 Trillion in debt.
  • DEL2CDEL2C Posts: 6,418Registered Users
    If large businesses are being taxed more they are simply going to take their business OUT of the U.S.A. The small businesses won't survive.
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  • LikeAustraliaLikeAustralia Posts: 2,812Registered Users
    I would venture to say that most small businesses do not net even close to $250,000. Once payroll, operating costs, insurance, etc etc etc are paid, there simply isn't much left over. The tax changes will absolutely NOT affect the struggling small businesses. [ This is coming from someone who has worked in a SMALL family owned small business all her life (aside from college). ]

    Obama is not sending big business out of the country. In fact, BUSH did. Obama is going to give tax incentives to big companies to bring business and jobs BACK to the USA.

    Ugh.. I seriously can't figure out where people get their information. :angry7:
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