Re: Payroll Tax Increase for 2013
#33170
01/09/2013 08:19 AM
01/09/2013 08:19 AM
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Joined: Jan 2005
Posts: 8,525 owen county
gundude
Watching Over You All
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Watching Over You All
Joined: Jan 2005
Posts: 8,525
owen county
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You aint seen nuthin yet...
Life is hard. Its even harder If your stupid! John Wayne.
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Re: Payroll Tax Increase for 2013
#33174
01/09/2013 06:09 PM
01/09/2013 06:09 PM
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Joined: Apr 2001
Posts: 1,097 Martinsville, IN, USA
shooter
Hoosier Hunter
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Hoosier Hunter
Joined: Apr 2001
Posts: 1,097
Martinsville, IN, USA
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Originally posted by Knight50: Two big things took place in the New Year that will affect how much you bring home with each new paycheck this year. The temporary reduction in Social Security payroll tax expired. For someone who makes $50-thousand a year that means you'll be paying a $1,000 more a year into Social Security. Then there's the payroll tax increase, which impacts 77-percent of families. If you make between $40-and-50-thousand, you'll pay $579 more this year than last. If you make between $50-and-70-thousand, taxes will go up $822. So for the person earning that $50-thousand income, add the $1000 going to Social Security plus the $822 in payroll tax for a total of $1822 that wasn't coming out of your check last year, but will this year. Monthly, that breaks down to $151, or about $38 a week As your employer matches your SS, they get nailed also. Look for someone to get fired to make up for the loss.
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Re: Payroll Tax Increase for 2013
#33175
01/10/2013 08:50 AM
01/10/2013 08:50 AM
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Joined: Nov 2006
Posts: 334 Martinsville
Knight50
OP
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Joined: Nov 2006
Posts: 334
Martinsville
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