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Old 01-02-2013, 01:06 PM
ToddH's Avatar
ToddH ToddH is online now
LawnSite Bronze Member
Join Date: Aug 2012
Location: Grand Prairie, Texas
Posts: 1,927
FICA - Quick Update

Just cut the first payroll of the year.

If you have not heard but in the so called fiscal cliff deal they let the 2% FICA cut expire. This means you have to withhold the full 6.2% from the employee check. The amount the company have to pay has not changed. This also means the SE tax is up 2% as well.

Quickbooks is on this already. Checks cut payroll and bonus checks last week were different than those cut today.

Happy New Year.
By Todd Hancock

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