What Did You Spend Your Payroll Tax Cut On?

With the recent deal to avert the fiscal cliff for taxes, there was one tax cut that wasn’t spared that will affect millions of Americans, the payroll tax deduction. In an effort to boost the economy, lawmakers cut the payroll tax on Americans during 2011-2012 ┬áby 2 percentage points from 6.2% to 4.2%. This cut […]