Social Security payroll tax increase for 2013…

If you’ve never had or managed a payroll, you might not know that your employer has to match Social Security. Let’s do some math: The average worker’s taxes went up $30 per pay period. No big deal, right? Well, that means your employer matches an EXTRA $30 per employee in taxes. If your employer has 50 employees, that’s $1500 extra per pay period. That’s about $39K for the year. How many employers didn’t give raises because of the tax hike? How many workers lost their jobs because their employer can’t afford the hike? How many employers didn’t invest in his/her business because of the tax increase? Still think it’s no big deal?

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