budget cuts in out household

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ladykemma2
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Postby ladykemma2 » Wed Aug 15, 2007 5:24 am

MITBeta wrote:
ladykemma2 wrote:4. tax withholding is at "single" rate. is this right?


I would think you'd want the withholding at married unless you have a reason to over-withhold.

I found a great tool here that allows you to put your paycheck info in and see what the net take-home result would be. Another tool let's you setup your W-4 withholding sheet.

http://www.paycheckcity.com/NetPayCalc/ ... ulator.asp


in the past years whenever we withheld at the "married" rate we got hit with a 5K tax bill. yikes.

ladykemma2
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Postby ladykemma2 » Wed Aug 15, 2007 5:26 am

update:

hubby accepted a job from a local furniture maker. it's low paying but he might learn something. 12 dollars an hour for 30 hours per week. we'll see.

my only concern is that cost of gasoline will eat into his small take home pay.

Baker
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Postby Baker » Thu Aug 16, 2007 6:00 pm

Is the job that far that gasoline will eat a substantial chunk of money? Either way he will be doing something he wants to do and will be able to have a better idea if starting a furniture business is a realistic thing. Taking something from a hobby to a job can really go either way.

It may not be a ton of money but it should be enough to cover your budget shortfall, esp if you make some cuts anyways.


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