Pump up a shrunken paycheck!

While Congress did not let us fall over the “fiscal cliff,” our paychecks have already taken a dive.

During the eleventh hour, Congress passed the American Taxpayer Relief Act of 2012 to prevent costly income tax increases for most Americans. The legislation also halted the expiration of certain tax credits and aid, such as unemployment benefits.

However, individuals who earn more than $400,000 and families with more than $450,000 of income can expect an income tax increase. People at those income levels will now pay a top rate of up to 39.6 percent in income taxes.  >>>continue reading.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s