the cleaners inc
01-05-2011, 02:41 PM
I am doint my first payroll for 2011. I was told paychecks would be increasing a little bit but am finding that they are decreasing a little bit instead. Are they supposed to be increasing or decreasing?
Maureen
Paul Mayer
01-05-2011, 03:52 PM
Yes, they cut the Employee FICA rate from 6.2% to 4.2%. That is the break, but... The big Obama tax cut we had last year was taken away and they put the Bush "tax cut" rates back in place, taking away more than the FICA break gives making your take home pay less unless you are in the top wage brackets. :-(
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