A Couple of Increased Thresholds for 2012

Posted on November 9, 2011 by Leasa Magnuson in Business Tax, Individual Tax

The Social Security Administration has announced that the wage base for computing Social Security tax in 2012 will increase from $106,800 to $110,100. The wage base has been at $110,800 since 2009. It is increasing about 3% due to an increase in average wages. What this means is an employee will pay 6.2% on their […]

Is Payroll Tax Reduction a Good Idea?

Posted on September 14, 2011 by Leasa Magnuson in Business Tax, Individual Tax

On September 8, 2011 President Obama presented his proposals for boosting the economy. I confess I did not listen to his speech but have read bits and pieces of it and what jumps out at me is the reduction in payroll taxes. Earlier this year I blogged about employee’s having to pay 2% less in […]

View Post Payroll Taxes, Social Security Tax

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