Reminder: Your Paycheck Just Got Smaller

Just a friendly reminder that if you got your first paycheck of 2013 today, it's (probably) smaller after the payroll tax holiday expired at the beginning of this year.

The payroll tax holiday wasn't included in fiscal cliff negotiations, which, as Slate'sMatthew Yglesias argued back in November, is a pretty big oversight.

The Washington Post explains that those making the average weekly income of $818.69 will see each bi-weekly paycheck cut by $32.75 now that the tax holiday has expired. The payroll tax holiday cut 2 percentage points from every American's Social Security payroll tax at the end of 2010 until the end of 2012.

So, understandably, there might be some anger out there following what to most workers will essentially feel like a pay cut. Want to blame someone? As Dave Weigel explained earlier this week, despite a recent meme levying ire at Obama, you can pretty much just blame everyone involved in the negotiations.

Source: http://www.slate.com/blogs/the_slatest/2013/01/11/payroll_tax_holiday_expires_after_fiscal_cliff_negotiations_fail_to_extend.html

 

DON'T WAIT!

BOOK YOUR APPT NOW!

News

New Online Presence

Learn more about our consulting services and current changes in taxation law on our website.

 

Company news

Recommend this page on:

Contact Us

Contact us with your questions or to schedule an appointment:

(305)454-KATS (5287)

            or

info@kendalltaxes.com

            or

use our contact form.

 

Business Hours

Monday:      

9:00am - 7:00pm

Tuesday:      

9:00am - 7:00pm

Wednesday:  

9:00am - 7:00pm

Thursday:     

9:00am - 7:00pm

Friday:        

9:00am - 7:00pm

Saturday:    

10:00am - 3:00pm

Sunday:       

By Appointment Only

Visit Us:

West Kendall Accounting & Tax Services

11420 N. Kendall Drive

Suite 207-F

Miami, FL 33176

Print | Sitemap
© West Kendall Accounting & Tax Services

11420 N Kendall Drive | Suite 207 | Miami, FL 33176 789-554-9696

This website was created using Gilbert Moreno .

Call

E-mail

Directions