Archive for June, 2009
Hi Folks,
I plan on moving to NYC in May with my partner. We would like to rent a 2-bed room place in Manhattan (below 34th St). Besides the obvious expenses, such as brokers’ fee, deposit, monthly rent and electricity/gas, what are the other expenses we need to be aware of, so we can budget wisely? Thank you.
Keenan Masella
I moved for my employer in Jan of 07 from IL to NC. At that time. I received a lump sum payment to cover travel and moving expenses along with expenses in relation to the sale of my home in IL.
All of this money was added to my paystub so that I could be taxed on it. Fine. My employer also added additional money in to cover the federal and state taxes that I would be liable for.
My problem is with social security taxes. I have only earned $40,000 so far this year (my paystub shows $87k because of all of the relocation expenses) yet I’ve paid out close to $5k in SS taxes. I am salaried and paid twice a month. This past pay period my employer took out over 16% of my wages for social security taxes.
Apparently, I’m liable for 6.2% up to the first $95,000 earned? What are they doing? It looks like there is a $1,200 deficiency right now so can they legally just keep taking 16% of my pay to cover the difference? Shouldn’t they have notified me before doing this?
Emmett Barrios
When married, some couples split their joint expenses 50/50 while others split them based on the ratio of income each brings to the total household income to promote fairness. Has any couple split their expenses to ensure that each has the same amount of cash flow each month? Because I earn more money than my spouse does, he is proposing this method. He feels resentment because I am able to save more than he can if we split joint expenses based on the ratio of each of our income. Any comments and feedback are welcome!
Bobbie Rabun
These are medical expenses paid for by an individual(“Taxpayer”) for their significant other, they are not married and there is no blood relationship but the significant other is under the taxpayer’s insurance as a domestic partner? Can the taxpayer deduct these medical expenses on their own individual tax return?
Hans Tanenbaum
I am going to a small private couture school abroad and US financial aid does not work with that school. My tuition is being paid for by the school but I still need financial aid to afford the numerous supplies that I am going to need as well as daily living expenses. Are there any student loans for people in my position?
Ted Perrott























