How to Make Up for the Payroll Tax Increase

In 2011 and 2012 we got a break when the Social Security payroll tax temporarily dropped from 6.2% to 4.2%. Now it's back where it started. For a family with a household income of $100,000, the payroll tax hike means a loss in income of about $2,000 a year. Making up for that loss in income will require some careful planning to cut expenses and increase earnings, but it can be done.

Team PaycheckCityJan 31, 2013

Looking for a payroll solution?

PaycheckCity Payroll is an easy and affordable way to do your small business payroll. Sign up for a 7-day free trial today.