{"id":502,"date":"2011-05-31T16:24:26","date_gmt":"2011-05-31T20:24:26","guid":{"rendered":"http:\/\/nspg-software.com\/wordpress\/?p=502"},"modified":"2011-05-31T16:24:26","modified_gmt":"2011-05-31T20:24:26","slug":"numbers-cruncher-tax-adjustment","status":"publish","type":"post","link":"http:\/\/nspg-software.com\/wordpress\/2011\/05\/numbers-cruncher-tax-adjustment\/","title":{"rendered":"Numbers Cruncher Tax Adjustment"},"content":{"rendered":"<p>As we all know, the Social Security tax was reduced by 2% for 2011 from 6.2% to 4.2% of salaries up to $106,800.  This tax is usually combined with the 1.45% Medicare tax into what is traditionally called FICA.  For all employee withholding for the year, you should reduce your FICA amount by 2% from the usual 7.65% to 5.65%.<\/p>\n<p><a href=\"http:\/\/nspg-software.com\/ads\/graphics\/NSPGNe16.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright\" title=\"Numbers Cruncher FICA tax adjustment\" src=\"http:\/\/nspg-software.com\/ads\/graphics\/NSPGNe16s.jpg\" alt=\"\" width=\"300\" height=\"173\" \/><\/a>If you use Numbers Cruncher for calculating your breakeven and profitable selling price, be sure to make this adjustment on the Tax\/Benefit form.  You can reduce the FICA percentage to 5.65% for 2011.  Numbers Cruncher will adjust all of your employees&#8217; salary numbers, your breakeven and your profitable selling price <span style=\"color: #0000ff;\"><strong>automatically<\/strong><\/span>.<\/p>\n<p>You can see a quick summary of the change on the <a title=\"IRS FICA Tax rule change\" href=\"http:\/\/www.irs.gov\/govt\/fslg\/article\/0,,id=234205,00.html\" target=\"_blank\">IRS site<\/a>. You should consult with your accountant to be sure you get this right.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As we all know, the Social Security tax was reduced by 2% for 2011 from 6.2% to 4.2% of salaries up to $106,800. This tax is usually combined with the 1.45% Medicare tax into what is traditionally called FICA. For &hellip; <a href=\"http:\/\/nspg-software.com\/wordpress\/2011\/05\/numbers-cruncher-tax-adjustment\/\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[9,18,27,29],"class_list":["post-502","post","type-post","status-publish","format-standard","hentry","category-nspg-news","tag-breakeven","tag-management","tag-small-business","tag-tax-breaks"],"_links":{"self":[{"href":"http:\/\/nspg-software.com\/wordpress\/wp-json\/wp\/v2\/posts\/502","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/nspg-software.com\/wordpress\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/nspg-software.com\/wordpress\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/nspg-software.com\/wordpress\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/nspg-software.com\/wordpress\/wp-json\/wp\/v2\/comments?post=502"}],"version-history":[{"count":2,"href":"http:\/\/nspg-software.com\/wordpress\/wp-json\/wp\/v2\/posts\/502\/revisions"}],"predecessor-version":[{"id":504,"href":"http:\/\/nspg-software.com\/wordpress\/wp-json\/wp\/v2\/posts\/502\/revisions\/504"}],"wp:attachment":[{"href":"http:\/\/nspg-software.com\/wordpress\/wp-json\/wp\/v2\/media?parent=502"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/nspg-software.com\/wordpress\/wp-json\/wp\/v2\/categories?post=502"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/nspg-software.com\/wordpress\/wp-json\/wp\/v2\/tags?post=502"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}