How the Fiscal Cliff Affects You
One aspect of the cliff will affect everyone who gets a paycheck is the end of the payroll tax holiday. Video by nbc26.comvideo
GREEN BAY-- Certified Public Accountant Lloyd Leuthner has been crunching the numbers to answer his clients' questions about the fiscal cliff. He says those who make between $50,000 and $100,000 per year will get hit the hardest.
One aspect of the cliff will affect everyone who gets a paycheck is the end of the payroll tax holiday.
Small business owner Jeff Brockdorf just opened Alfa bridal last summer. If taxes go up, he and his employees will feel the pinch.
"It's obvious we are going to be going over it looks like it's going to have an affect on us, the cost of taxes, an issue for us as far as hiring, we were looking at hiring a few and we're going to be cautious here,” Brockdorf said.
Nearly 90% of taxpayers will be affected by going over the fiscal cliff.