• Skip to main content
  • Skip to header right navigation
  • Skip to site footer
Bautis Financial

Bautis Financial

Secure your Castle, Achieve your Dreams.

  • Schedule a Call
  • Podcasts
    • Agent of Wealth
    • Clear a Path
  • About
    • Our Approach
    • Our Team
    • Our Difference
  • Who We Work With
    • Individuals and Families
    • Small Business Owners
    • Retirees and Pre-Retirees
    • 401k Plan Sponsors
  • Insights
    • Blog
    • Business Valuation Advisor
    • College Planning Hub
    • Discover How
    • Learning Center
    • Risk Score
  • Client Access
    • Wealth Center
    • Orion

Social Security Payroll Tax Collection Suspension – Daily Flash Briefing

August 18, 2020 by Bautis Financial
Social Security Update

An executive order signed by President Trump suspends the collection of Social Security through the end of 2020. Here's how the suspension may affect you.

After negotiations for another Stimulus bill stalled for two weeks, President Trump issued an executive order suspending the collection of Social Security payroll taxes from September 1st to December 31st, while hinting that it might go beyond that timeframe too.

It would impact those making less than $4,000 for any bi-weekly pay period, or about $104,000 annually.

While the left and many on the right were not fans of the payroll tax cut for lots of reasons, there is one very real pitfall that might come into play later. Listen for more.

Get instructions on how to enable our Flash News Briefing skill to your Amazon devices:

Bautis Financial’s Amazon Alexa Daily Flash News Briefing

Category: Finance News, Social Security and Medicare, TaxesTag: Social Security, Social Security Benefits, Social Security Updates, Taxes, Taxes in Retirement
Previous Post: « Bautis Financial's Daily Flash Briefing 3 Questions to Ask if You Are Considering Altering Your Retirement Because of COVID-19 – Daily Flash Briefing
Next Post: Putting the News About GDP and the Economy Into Perspective – Daily Flash Briefing Alexa Daily Flash Briefing Bautis Financial »

Subscribe to Our Insights

Sign up to receive valuable financial insight and updates straight to your inbox each week.

Social

Follow along on social media

Contact

Bautis Financial
7 North Mountain Ave
Montclair, NJ 07042
Get directions
862-205-5800
Contact

Navigation

  • Schedule a Call
  • Podcasts
    • Agent of Wealth
    • Clear a Path
  • About
    • Our Approach
    • Our Team
    • Our Difference
  • Who We Work With
    • Individuals and Families
    • Small Business Owners
    • Retirees and Pre-Retirees
    • 401k Plan Sponsors
  • Insights
    • Blog
    • Business Valuation Advisor
    • College Planning Hub
    • Discover How
    • Learning Center
    • Risk Score
  • Client Access
    • Wealth Center
    • Orion

Copyright © 2023 · Bautis Financial · All Rights Reserved · Powered by Mai Theme

Return to top