While looking at the news today on Yahoo, I cam across this article talking about the Social Security Tax being raised. While people who work for someone will be affected to the people who will be hit hardest are those that are self employed, such as bloggers. Those who work for someone have 1/2 of the % taken out of their check and the other half is paid by their employer, well bloggers and those who are self employed have to pay the full percentage themselves. In 2012 the rate will go up to 12.4%, meaning 12.4% of a self employed person’s income goes straight to Social Security Tax.
While there are some bloggers that do make [Read more...]