How Much Did Your Post-Fiscal Cliff Paycheck Shrink?
People making $50,000 a year who are paid twice each month are now taking home $42 less in their paychecks.
Just weeks after Congress averted the Fiscal Cliff, Nashua-area residents have undoubtedly started seeing the effect of the loss of the payroll tax cut in their paychecks.
If you make $50,000 a year, you are now paying about $1,000 more in federal taxes, according to CBS. For those who are paid twice each month, that amounts to about $42 less per paycheck or $84 less per month.
The Wall Street Journal has a calculator to determine how much more in taxes you are now paying a year based on your salary.
How do you feel about your paycheck following the Fiscal Cliff deal?