Home > Thinking...


November 11th, 2012 at 02:26 pm

Just a quick thought...the payroll tax is likely to expire at the end of the year. Right now it is 4.2% down from 6.2% at the beginning of 2011. I was thinking as a way to prepare for the change, I should take that 2% and add the money to our truck loan. It's extra now....and in a few months it will be off to the government.

For us that looks like another $122 a month. Seems like a lot! Are you prepared for the possible and likely change?

3 Responses to “Thinking...”

  1. Thrifty Ray Says:

    Thank you for the reminder. With so much other stuff going on in my world, I hadnt thought about this!!

  2. ceejay74 Says:

    Ooh, good point. I've been meaning to sit down and think about all the possible (and definite) budget changes for next year, and this is a biggie. I don't think it was as much as yours, but I remember it being a nice boost to our income. Plus, I've had a raise since the cut was implemented, so that might make a difference!

  3. FrugalTexan75 Says:

    It wasn't really an "extra" for me since when it was first implemented I was not being paid via payroll, but I do need to figure out how that is going to affect my monthly income. Thanks for the reminder!

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