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New payroll tax question My rate of pay is $10.00 per hour...part-time...30 hours per week...no benefits. Single, no deductions. Last week, (2010) take home was $245.15. This week, (2011) $243.75. Did I misunderstand or wasn't my take-home pay supposed to increase by a few pennies or more with the new tables after 1/1/11?.

By: Guest
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state probably dicked you
[d] By: Guest
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Your employer may have goofed

You should see a 2% increase in pay due to the payroll tax deduction. That would be about 300*.02 or $6 per week

[d] By: Guest
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MakeWorkPay vs Payroll Tax Reduction

Look into the effects of the Make Work Pay credit. This credit was figured into the amounts for withholding for 2010. I believe the idea was that the $400 would be split up every week and not just refunded at the end of the year.

In 2011, they removed this credit, but reduced the Employee portion of Social Security by 2%. However it works out, there is an amount around 20,000 annual pay where 2011 has lower withholding if you would make more than 20K. If the 30 hrs at 10/hr was for an entire year, the annual pay would be 15,600. This situation would actually see a slight increase in withholding and therefore a slight decrease in their paycheck.

Here is an article that gives some information on the tax changes for 2011.

http://online.wsj.com/article/SB10001424052748704073804576023842991850786.html

[d] By: Guest
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Payroll tax question

Depending on how your employer does payroll, if the payroll tax files where not updated before the payroll was done the tax maybe incorrect. It does not make a difference what state you live in, the payroll tax changes where made at the federal level. One way to check if there was an error made is to look at the social security tax. The portion that the employee pays and the employer pays should not match any more. The change on social security tax was only for the employee. Even though that tax was lowered, the Federal Income Tax did increase. Talk with your payroll person if you have any additional questions.

[d] By: Guest
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What is 1 + 100



Helpfulbox Now Offers Free POS Software

for restaurants, kiosk, and any other retails business completely free. It can be used as windows cashier system or as full blown POS. You will able to print to kitchen, display orders on the kitchen screen, manage inventory, employee, report, customer loyalty offers, employee management, delivery address track and much more, all for free.

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