Members in the News

Michelle Staebell (Rochester)

Payroll taxes

WROC Rochester First

CPA Michelle Staebell discussed payroll taxes and their benefits for employees Monday on News 8 at Sunrise. Staebell said all employees must pay two types of payroll taxes on the money they earn.  There is a Social Security tax of 6.2 percent that goes to the Social Security Administration.  There is also a 1.45 percent tax that goes into the Medicare fund.  These taxes are withheld from the paycheck before the money gets to the employee.