Sep. 1st, 2020

Social Security Withholding

Chris Harper, Senior Accountant at Hungerford Nichols CPAs + Advisors and Professor at GVSU, joined West Michigan’s Morning News to talk about the pros and cons of halting the Social Security tax withholding on your paycheck. Employees may choose to have their portion of their social security tax not withheld from their paycheck now until New Year’s Eve.  But there’s a catch — this is a deferral, not an abatement.  The genesis was from an Executive Order from President Trump.  Chris talks through some unknowns and questions that people may have.