blogger visitor

Saturday, January 12, 2013

WHEEL OF PAIN

U.S. wage earners are feeling the pain this week as they receive smaller paychecks due to the elimination of a 2% tax break on social welfare taxes under the recent tax act. A new 3.8% tax is also imposed on the investment income of higher-earners for Obamacare, as well as an extra 0.9% tax on earned income.
It is getting too difficult to remember the number and computations without a scorecard, so I have prepared one. Click on the image below or here to open a larger  PDF version that is readable. Of course, these taxes are separate and apart from (that is, are in addition to) income taxes.
13 Federal Social Welfare Taxes (2013)

No comments: