I Finally Saw The Loophole

I'm not usually a lover of "loopholes." I'm of the mindset that people should do what they say they are going to do and mean what they say.

Be transparent. Be truthful. Everyone should be treated equally with rules evenly applied across the board. There should be no loopholes. 

Except today I am thankful for the loophole I finally saw.

If you read my previous post,  Deferred Entitlement,  you know I was furious after  I received notification that, as a federal employee, I would be forced to endure a tax deferral I neither requested nor wanted. In fact, I  feel this tax deferral will ultimately harm the very people it was purportedly designed to assist.  I was so angry I did not read the whole  email. As a result  I missed the loophole.

But even without reading the whole document, I should have known there would be a loophole. Especially since the government is involved.

For the remainder of the year everyone with gross earnings below a certain threshhold each pay period will have a deferral of their OASDI (Old Age, Survivors, and Disability Insurance) tax.  This is the tax that funds Social Security. On the suface the deferral seems like a good thing for folks stuggling to make ends meet thanks to Covid-19 and the resulting shitdiwns and job losses.  However, it's just a deferral until the first quarter of next year, at which time the OASDI tax withheld will be doubled until caught up. 

Politicians in this election year are teasing us with the possibility of the deferral being forgiven next year...if they remain in office. 

Humphft...the government reducing taxes?  First, IMHO every politician has an agenda and second, their promises--especially election year promises--are not worth the hot air it takes to speak them into existence.  To say  I'm skeptical the deferral will be  forgiven is a gross understatement.

But there is a loophole.

The loophole is clearly stated. I didn't even have to seach for it. I just needed to calm down long enough to be able to realize it was there.

This tax deferral will not be applied to anyone whose gross earnings are above a certain threshold. Unfortunately my gross earnings are normally less than the threshold  so it really won't help me.

Normally.

However, due to  working overtime at the Covid Screening Tent, my gross earnings, this first pay period of the deferral, are above the threshold.  In fact, my OASDI withheld this payperiod was actually 1.5 times what it normally is. 

Aha! The loophole. In order to avoid the tax deferral my gross earnings have to remain above the threashold.

So, my strategy to avoid this tax deferral is to continue to work the Covid Tent, and any  holidays between now and the end of the year.  These actions will inflate my gross earnings.

My OASDI will be larger, but so will my net pay--with the added bonus of not having double OASDI taken out next quarter when the unforgiven deferral comes due.

I can breath easier now that I have an Anti-Deferral Plan.

Of the remaining eight payperiods, three  have holidays. Hopefully,  the Covid Screening overtime will continue to be available through the rest of the year.  It dried up once before, when we contracted it out to another company, so it's not a given. But so far, so good.

As long as I can work overtime, this loophole may keep me from having to have an unwanted deferral crammed down my throat.

I've decided loopholes may not be so bad after all. Especially when they apply to me.

In fact, I'm kinda lovin' this particular loophole.

Temporarily Untethered

I am untethered--at least for the short term. The donut has been replaced. I can once again take a trip and drive at highway speeds. 

I cannot tell you how much that donut has cramped my lead foot day triper style this past weekend.  Especially since it occured over a holiday weekend.

I probably could have requested another loaner from the dealership, but I didn't want to press my luck. Two loaners. Two months in a row. To replace my SUV while they made lightweight repairs for which they typically don't give out loaners. I'm a good customer, which is why it was approved by management for the battery last month, but even I would have a hard time asking that favor again...for a tire. Especially since they ate the total cost of the replacement tire thanks to road hazzard insurance. 

Besides, instead of needing transportation overnight to go to work (both times), it would have actually been a five day loaner this time because they had to order the tire over the holiday weekend.

Nope. Didn't want to press my luck for those odds. 

I stayed home except to go to work and the pharmacy. And I only drove on the slower surface streets. I'll save the loaner favor for another car crisis.

Being stuck at home was actually a good thing. No projects were completed, but I got some much needed rest.

I had good project intentions. However, the clothes and linens still need to be washed. The house still needs to be cleaned. The unfinished projects remain unfinished. And I rested so much I lost a day--I woke up Monday thinking it was Sunday.

Since I slept so much,  I also managed to avoid any online purchases, although when I was awake Amazon.com sorely tempted me.

Today, after I lost the donut, I treated myself to a Route 44 DDP at Sonic.

As soon as I pulled into my slot a sheriff drove up behind me. Reflexively I yanked my foot off the floorboard even though I was already parked.  Some reflexes remain ingrained--even though the candles on my cake could keep a small village in good light.

Was it coincidence? Or did this LEO know my tire was fixed and I was itching for a ride on the open highway? Did he know I sometimes drive a little faster than the donut allows? Did he have access to a dealership snitch?  Am I still on the speed radar even though I've been keeping my nose clean and my foot riding a little lighter on the pedal the past couple years? Is there a ticket rotation--kind of like the Jury Duty rotation--and is my number up?  Again?  Is my SUV marked as a habitual speeder? Was he sniffing out the donut residue?

The questions flitted through my head at a warp speed Scotty would have beamed over.  They continued to buzz my brain until I saw the Trooper slide effortlessly into a street facing slot, roll down his window, and place his order.

He'd be at Sonic for a while.

Because I've seen the police working in tandem on Main Street the past few months, I was relatively sure another might be lurking nearby. On the way home I drove 5 under just to play it safe. 

I also kept my eyes on the lookout for new hideyholes, and avoided making the acquaintance of a local guy. The zippy little sports car that passed by wasn't quite as wallflowerish.

I may stay  close to home another day. Even with the new tire.  I might have to employee  a  voluntary self-tethering.

I can endure one more day of tethering....as long as it's temporary...and I can untether again... 

For a longer, faster drive...and another DDP.  😉