Off-Topic: Layoffs are accelerating

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	Name:	GoneFishin -
	Subject:	Layoffs are accelerating
	Date:	11/9/2012 2:58:44 PM

"A highly compensated employee might hit the max in the fall with one job and no longer pay FICA but not at all with two or three jobs and end up paying way more than they should."

Anyone who meets the FICA max can request an employer to cease deducting FICA taxes. If they prefer not to have the second employer know they have reached the maximum, they simply file for a refund for the excess when they file their income tax.

I would suggest the issue is NOT with the individual, but rather the employer. Since each employer has paid the matching amount and the individual is entitled to a refund for the excess, I assme the combined total matching from the 2 employers remains in the trust fund.

Ask your accountant since you will be using highly compensated temps who may well work multiple jobs earning well over the FICA max.

Other messages in this thread:

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Layoffs are accelerating - MartiniMan - 11/9/2012 1:06:31 PM

Layoffs are accelerating - GoneFishin - 11/9/2012 2:58:44 PM

Layoffs are accelerating - MrHodja - 11/9/2012 3:41:27 PM

Layoffs are accelerating - GoneFishin - 11/9/2012 7:47:19 PM

Goofy, as marketing director - wix - 11/10/2012 8:35:24 AM

The issue is with the individual - MartiniMan - 11/10/2012 8:51:44 AM

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