No sweetener to the current fiscal cliff crisis, the Social Security Tax temporary reduction of 6.2% to 4.2% ends today. This tax cut is a cut in United States payroll taxes, it was applicable for two years, 2011 and 2012 in an effort to stimulate the economy. The tax...
Unbeknownst to many people, self-employment tax is a Federal tax that is imposed on net self-employment earnings. This is the case even when those earnings come from sources outside the United States. The rate (normally 15.3%) is reduced by 2% for the 2011 calendar...
