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hazeleyes33
LIF Adult
Member since 5/05 13060 total posts
Name:
Ginger
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2011 Social Security tax break
Does anyone know about this and is this true?
If you pay SS you will have an extra $2 in your pocket for eveyr $100 in gross pay you make.
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Posted 1/3/11 7:35 AM  |
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Shroggie
Don't Worry...Be Happy
Member since 5/06 6261 total posts
Name:
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Re: 2011 Social Security tax break
It went down about 2%.
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| Posted 1/3/11 7:56 AM |
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Peaches77
LIF Adult
Member since 1/10 993 total posts
Name:
Me
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Re: 2011 Social Security tax break
The social security withholding rate for employees went down to 4.2% from 6.2%.
So every week you should be getting an extra 2% in your net check.
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| Posted 1/3/11 9:16 AM |
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Andrewz00
Look! I changed it!
Member since 4/10 1789 total posts
Name:
Andrew
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Re: 2011 Social Security tax break
Employees usually pay 6.2% of their initial $106,800 yearly earned wages. Starting in 2011 the amount will change to only 4.2% of employee’s incomes. This means for each $100 in wages, workers will pay $4.20 instead of $6.20.
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| Posted 1/3/11 9:17 AM |
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hazeleyes33
LIF Adult
Member since 5/05 13060 total posts
Name:
Ginger
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Re: 2011 Social Security tax break
Thanks :)
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| Posted 1/3/11 9:20 AM |
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Andrewz00
Look! I changed it!
Member since 4/10 1789 total posts
Name:
Andrew
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Re: 2011 Social Security tax break
its just like hitting the lottery every week.. where you only match 2 numbers!
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| Posted 1/3/11 9:22 AM |
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springchick
make a wish
Member since 5/08 3566 total posts
Name:
justask
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Re: 2011 Social Security tax break
Posted by Andrewz00
its just like hitting the lottery every week.. where you only match 2 numbers!
lol maybe you can you the extra 2% to buy lotto tickets and win the lotto/mega million 
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| Posted 1/3/11 10:33 AM |
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hazeleyes33
LIF Adult
Member since 5/05 13060 total posts
Name:
Ginger
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Re: 2011 Social Security tax break
Does this start with the 1st paycheck of the year?
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| Posted 1/3/11 10:32 PM |
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Christine
2nd verse same as the 1st
Member since 5/05 15287 total posts
Name:
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Re: 2011 Social Security tax break
According to IRS.gov employers must use the new tax tables asap but have until 1/31 to comply. I imagine payroll companies like adp will use the correct tables right away.
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| Posted 1/3/11 10:44 PM |
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hazeleyes33
LIF Adult
Member since 5/05 13060 total posts
Name:
Ginger
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Re: 2011 Social Security tax break
Posted by Christine
According to IRS.gov employers must use the new tax tables asap but have until 1/31 to comply. I imagine payroll companies like adp will use the correct tables right away.
Cool, thanks :)
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| Posted 1/4/11 7:56 AM |
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