Not everyone would say this, but I love teaching high school students about money. The OSU Extension program “Real Money. Real World.” is a sneak peek at managing money as an adult. It is eye-opening for these students to see how quickly our expenses add up each month. Another impressionable day is dissecting paycheck withholdings. […]
What’s all the talk about deferred payroll taxes?
WRITTEN BY: Emily Marrison, OSU Extension Family & Consumer Sciences Educator, Coshocton County
REVIEWED BY: Patrice Powers-Barker, OSU Extension Family & Consumer Sciences Educator, Lucas County and Barry Ward, OSU Income Tax Schools Director and Production Business Management Leader for OSU Extension
PHOTO CREDITS:
- Pixabay.com
SOURCES:
- Braun, B., Little, L., Russell, M. Helping You Make a “Good Guess” for Out-of-Pocket Health Costs. Fact Sheet – 1020, April 2015. University of Maryland Extension and University of Delaware Cooperative Extension. https://www.udel.edu/content/dam/udelImages/canr/pdfs/extension/nutrition-wellness/smart-choice/7-Helping-you-make-a-good-guess-for-out-of-pocket-expenses.pdf
- Live Smart Ohio. Occasional Expenses – How do you manage? April 15, 2015. https://livesmartohio.osu.edu/money/stehulak-1osu-edu/occasional-expenses-how-do-you-manage/
- The White House. Memorandum on Deferring Payroll Tax Obligations in Light of the Ongoing COVID-19 Disaster. August 8, 2020. https://www.whitehouse.gov/presidential-actions/memorandum-deferring-payroll-tax-obligations-light-ongoing-covid-19-disaster/
- U.S. Department of the Treasury. Treasury and IRS Issue Guidance Deferring Certain Payroll Tax Obligations. August 28, 2020. https://home.treasury.gov/news/press-releases/sm1110
- Ziv, S. These 70 Employers Opted Out Of Trump’s Payroll Tax Deferral, Did Yours? Forbes. September 9, 2020. https://www.forbes.com/sites/shaharziv/2020/09/09/employer-opt-out-trump-payroll-tax-deferral-opt-out-notice-2020-65-start/#7357580366f4
REFERENCES:
- Occasional Expenses Worksheet from "Manage Your Money" Bulletin 972-1 https://extensionpubs.osu.edu/manage-your-money-pdf/