Payroll Tax Question - 1/4/13 | TigerDroppings.com
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papasmurf1269
LSU Fan
Hells Pass
Member since Apr 2005
14675 posts

Payroll Tax Question

Would it be beneficial to employees that employers go to a bi weekly pay instead a weekly check.Does the payroll tax work that way?TIA.


La Place Mike
LSU Fan
West Florida Republic
Member since Jan 2004
18638 posts

re: Payroll Tax Question
It's the same percentage regardless of pay schedule.


Will Cover
Air Force Fan
Brentwood, TN
Member since Mar 2007
26305 posts

re: Payroll Tax Question
If using a payroll company, the employer would save money by paying employees bi-weekly (26 times) or semi-monthly (24 times) vs. paying employees weekly (52 times).

No advantage from a tax purpose.



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papasmurf1269
LSU Fan
Hells Pass
Member since Apr 2005
14675 posts

re: Payroll Tax Question
quote:

It's the same percentage regardless of pay schedule.
So,
no benefit going to bi weekly. ETA Thanks for the response.
This post was edited on 1/4 at 1:41 pm


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Newbomb Turk
Navy Fan
perfectanschlagen
Member since May 2008
9961 posts

re: Payroll Tax Question
They take out 7.65% of your gross pay on the first $112,500 (for 2013) and then 1.45% on everything above that -- no matter how you are paid.

Oh, and this is taken off the top. However, YOU ARE STILL TAXED (via the income tax) on the amount they take out. So, not only do you NEVER see it, you're taxed on top of that on the money you NEVER see. Cute, isn't it.
This post was edited on 1/4 at 1:45 pm


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doubleb
LSU Fan
Baton Rouge
Member since Aug 2006
8244 posts

re: Payroll Tax Question
quote:

Would it be beneficial to employees that employers go to a bi weekly pay instead a weekly check.Does the payroll tax work that way?TIA


It would benefit Obama because he could then tell the voters that he doubled the size of their paychecks.


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