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Financial Planning / Tax Strategies


Subject:  Re: Federal tax withholding rates Date:  1/18/2013  11:38 PM
Author:  billjam Number:  117402 of 127616

Sounds like your employer may have reverted to pre-Bush taxcut withholding when Congress failed to act last year. If so they will have to correct that. CNBC did a piece that said withholding for someone making $60K went down $4 on a biweekly basis due to inflation adjustment of tax brackets. However, FICA went up $45 due to expiration of the temporary payroll tax reduction passed in 2010. Which prompts me to ask, are you really talking about income tax withholding or are you talking about total deductions including FICA?
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