Welcome Guest. Register Now!  


Payroll Payroll related topics.


Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 12-31-2012, 02:15 PM
TaxGuru's Avatar
Tax Guru
 
Join Date: Jan 2007
Location: New Jersey, USA
Posts: 2,397
Blog Entries: 3
What is the impact on the Payroll Tax as a result of the possible Tax Law Changes in 2013?

It appears that the "taxpayers will have to say goodbye to the 2% payroll tax reduction." This means a $40,000 salary could incur $800 more in taxes assuming that Congress allows this tax reduction to expire as part of the Congressional deal to Balance the Budget.

Clearly, this is a regressive tax, and will affect the consumer spending and may potentially contribute to slowing of the economy leading some experts to predict another recession in 2013!

__________________
Find a CPA near you!

Ask TaxGuru Please refer to the legal disclaimer.


Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
What are the some of additional tax hikes for 2013 Tax Year? TaxGuru For 2013 2 02-25-2013 10:27 PM
What is the impact on the Capital Gains Tax for as a result of the possible Tax Law Changes in 2013? TaxGuru Capital Gains 1 01-25-2013 02:33 AM
What will be the impact of the The Patient Protection and Affordable Care Act (“Act”) on Individual Income Tax Rates in 2013? TaxGuru For 2013 0 12-05-2012 02:55 PM
What are the Important Dates for Payroll Tax For California Payroll Tax Returns for 2012? TaxGuru Payroll 0 01-30-2012 11:33 AM
Is it better to do your own payroll tax returns or hire an outside payroll company? Sabby Sole-Proprietorship 1 07-21-2008 01:02 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning