breaking news

Ohio closer to allowing dogs on restaurant patios statewide

Auditor: New federal tax cut will have $2.1M impact for Butler County employees

President Donald Trump was in Cincinnati on Monday touting the government’s massive tax reform, and the Butler County auditor said county employees are already seeing more cash in their paychecks that will total an estimated $2.1 million this year from the cuts.

Butler County Auditor Roger Reynolds told this news organization his office applied the new federal income tax rates and determined the 2,012 people who work for the county will receive a total of about $2.1 million more in their paychecks this year. Those boosts are already being noticed, he said.

RELATED: President Trump visits Cincinnati today

Reynolds said many people were caught by surprise, thinking the impact would only come when income taxes are due next year.

“I think people are thinking it’s going to impact their taxes next year when they file,” Reynolds said. “The reality is it’s impacting them right away because all of the payroll departments across the country have been provided the new income tax rates, we’ve applied those rates.

“Bottom line, it’s reducing the amount of federal tax being taken out of their paycheck.”

Reynolds said on average employees are seeing an extra $40 in every two-week paycheck and $1,056 annually per employee, about $81,747 total per pay period for all county employees.

Trump signed the Tax Cuts and Jobs Act on Dec. 22. It cuts the corporate tax rate from 35 percent to 21 percent beginning in 2018. The top individual tax rate will drop to 37 percent. It cuts income tax rates, doubles the standard deduction and eliminates personal exemptions.

Because of the late passage of the legislation, Reynolds said many workers will not see the lower federal tax rates reflected in their paychecks until mid-February. Payroll departments must make the change by Feb. 15.

He said he did get calls from employees after the pay hikes showed up.

“That might be one of the best things I’ve been able to do since I’ve been in office, to actually reduce the federal withholdings from everyone’s paychecks. It’s really a big deal,” Reynolds said. “I’ve been in the accounting world for over 25 years and it’s rare that you ever get the chance to increase someone’s take-home pay by reducing the federal taxes.”

Not only are employees seeing a bit more in their regular paychecks, but Dan Bates, president and CEO of the Greater Hamilton Chamber of Commerce, said some employers are sharing their increases — due to tax code changes — with their employees.

“There are many benefits to small business that actually increase their bottom line,” Bates said. “It gives a little bit more money in the employees’ pockets, and we have heard of other businesses that are looking at giving employees bonuses based on the tax laws.”

Reader Comments ...

Next Up in Local

Summer feeding program helps children eat a free meal
Summer feeding program helps children eat a free meal

Children that struggle to eat during the summer months now have a summer school feeding program that gives them places to go to get food. The Summer Food Service Program, sponsored by the State of Ohio, is coming to Trotwood starting June 4 to help feed students while school is out for the summer, according to News Center 7's Caroline Reinwald. ...
Animal advocates for more than a century
Animal advocates for more than a century

The areas longest-serving agency aiding animals, the Humane Society of Greater Dayton, got its start 116 years ago caring for animals – and humans. Here are 9 things to know about the history of the organization according to their research and Dayton Daily News archives: 1. First Established. The Humane Society of Greater Dayton was officially...
Turner: HHS should release groundwater contamination study
Turner: HHS should release groundwater contamination study

A Dayton congressman has called on the head of the U.S. Health and Human Services to release a toxicology report that could recommend lower threshold levels for exposure to chemicals found in groundwater after the top leader at the U.S. Environmental Protection Agency said it was not responsible for its release. U.S. Rep. Mike Turner, R-Dayton, urged...
Kil-Kare rezoning vote results change, but recount awaits
Kil-Kare rezoning vote results change, but recount awaits

Results are still too close to call from the May 8 election on the Kil-Kare Speedway rezoning request referendum in Xenia Twp. After more ballots were counted, results show voters supporting the zoning change 617 to 614, according to Greene County Elections Director Llyn McCoy. That’s a different result from election night when the final, unofficial...
Police apprehend 1 of 2 juveniles accused of taking car, cell phone, purse at gunpoint
Police apprehend 1 of 2 juveniles accused of taking car, cell phone, purse at gunpoint

One of two juveniles accused of taking a car at gunpoint is in custody after an alert Dayton police detective chased him down.  The foot pursuit occurred Tuesday afternoon in the area of Burwood Avenue and Germantown Street, Sgt. Creigee S. Coleman said, when the detective saw the two juveniles and the car that was stolen earlier in the day. ...
More Stories