Your taxes are (probably) going up in 2013
Not only does the deal to avoid the fiscal cliff raise taxes on top earners, but also it hits ‘nearly every wage earner’ due to the expiration of payroll tax cuts.
This means you, PR and marketing pros.
The Senate bill to avert the so-called fiscal cliff, which the House passed on Tuesday, fails to prevent the expiration of payroll tax cuts enacted in 2011. As a result, an American household earning $50,000 will pay roughly $1,000 in additional taxes.
(The Wall Street Journal has a calculator that reveals how much you’ll pay based on your annual pretax earnings.)
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