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The Water Cooler
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$5472
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<blockquote data-quote="hrdware" data-source="post: 2065511" data-attributes="member: 24475"><p>I work in the payroll industry, so here is what happened:</p><p></p><p>The Employee SS Rate went from 4.2% to 6.2%, a 2% increase, however as was stated earlier, this was the lapse of a decrease that was supposed to help stimulate the economy.</p><p></p><p>Also, ever year the Federal Withholding Tables get adjusted for inflation and this year there were the high end bracket changes.</p><p></p><p></p><p></p><p>So not only do we have the 2% increase, but each bracket got an increase as well. The bracket increase is the inflation adjustment that is done every year, but they also added the 39.6% bracket this year.</p></blockquote><p></p>
[QUOTE="hrdware, post: 2065511, member: 24475"] I work in the payroll industry, so here is what happened: The Employee SS Rate went from 4.2% to 6.2%, a 2% increase, however as was stated earlier, this was the lapse of a decrease that was supposed to help stimulate the economy. Also, ever year the Federal Withholding Tables get adjusted for inflation and this year there were the high end bracket changes. So not only do we have the 2% increase, but each bracket got an increase as well. The bracket increase is the inflation adjustment that is done every year, but they also added the 39.6% bracket this year. [/QUOTE]
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