 |
|
|
WZTV FOX 17 - Top Stories
Grand Old Golf, Games and Gokarts has plenty of college students like Rex Walker working part time.
Like most part-time workers Walker didn't pay much attention to the Fiscal Cliff Debate.
That changed when he got his paycheck Wednesday.
"I could tell it was a little bit lower than usual," said Walker. "I got the calculator on to calculate my hours to see exactly if I missed something a little bit."
Rex didn't miss anything.
His paycheck is smaller because the amount we all pay for Social Security just jumped 2%.
Nashville CPA Kevin Hickman says that Social Security hike is just the beginning.
Some deductions for college tuition are going away along with the deduction many Tennesseans use for sales taxes.
"Every client we had used that itemized used it," said Hickman. "It's gonna be disappointing a lot of people were keeping up with receipts I bought a car this year."
Some people will be paying higher taxes too.
The fiscal cliff deal raises some income taxes on singles making over
$400,000 and couples making $450,000.
The capital gains tax is also rising 5%.
"Depending on the circumstances it could be a substantial additional tax," said Hickman.
Walker isn't worried about that tax yet but his paycheck is proof even part-time employees are seeing less money this year.
Like most part-time workers Walker didn't pay much attention to the Fiscal Cliff Debate.
That changed when he got his paycheck Wednesday.
"I could tell it was a little bit lower than usual," said Walker. "I got the calculator on to calculate my hours to see exactly if I missed something a little bit."
Rex didn't miss anything.
His paycheck is smaller because the amount we all pay for Social Security just jumped 2%.
Nashville CPA Kevin Hickman says that Social Security hike is just the beginning.
Some deductions for college tuition are going away along with the deduction many Tennesseans use for sales taxes.
"Every client we had used that itemized used it," said Hickman. "It's gonna be disappointing a lot of people were keeping up with receipts I bought a car this year."
Some people will be paying higher taxes too.
The fiscal cliff deal raises some income taxes on singles making over
$400,000 and couples making $450,000.
The capital gains tax is also rising 5%.
"Depending on the circumstances it could be a substantial additional tax," said Hickman.
Walker isn't worried about that tax yet but his paycheck is proof even part-time employees are seeing less money this year.
Wednesday, January 2 2013, 10:48 PM CST
Tennessee News
Haslam's chief deputy Claude Ramsey to retire
June 19, 2013 16:41 GMT
NASHVILLE, Tenn. (AP) -- Gov. Bill Haslam says chief deputy Claude Ramsey is retiring at the end of August to spend more time with his family in Chattanooga.
The Republican governor said in a news release on Wednesday that the 70-year-old Ramsey has been integral to his administration on key initiatives that include civil service reform, economic development efforts, workforce development training and improved operation of state government.
Ramsey was elected to the General Assembly in 1972 where he served four years in the House. He was Hamilton County's mayor for 16 years.
His last day on the job is August 31.
News Stories
Local Headlines
Haslam's chief deputy Claude Ramsey to retire
Faith leaders asked to help members get legal help
Singer asks forgiveness from Chattanooga in video
Supreme court justice to speak at Belmont
Witness rescues toddler from railroad tracks
Neighbor charged with stealing deputy's gun
Ramsey reappoints De Friece to museum commission
Restored medevac chopper being dedicated at post
 |
|
|
Newsmax Headlines
Sponsored content
 |
|
|
Business News
Porsche tops in annual survey of vehicle quality
DETROIT (AP) -- Porsche is the top performer in an annual survey of new vehicle quality.
Consumer Info
BC-US--Dow Record-Three Personal Stories, 1st Ld-Writethru,1173
Dow Record: Three tales of ups, downs and changes
AP Photo FX102, FX103
Eds: With BC-US--Dow Record. Adds photos.
By SCOTT MAYEROWITZ
AP Business Writer
NEW YORK (AP) -- When the Dow first crossed 14,000, investors were overjoyed. ...
Science/Tech News
IN THE NEWS: INTELLIGENCE OFFICIALS SAY SURVEILLANCE FOILED PLOT TO BOMB NYSE
WASHINGTON (AP) -- The U.S.
Get This
VEGAS STRIP-THRILL RIDE
LAS VEGAS (AP) -- If losing your shirt in Sin City isn't enough -- you could soon lose lunch.
IE6 Float Fix
