Get ready for a higher social security wage base
November 10, 2016
If you’re an employer, you’ll need to withhold social security tax from a higher amount of your employees’ wages in 2017. The wage base for withholding social security tax from wages has increased to $127,200, up from $118,500 in 2016. The federal payroll tax rate remains 7.65%, a combination of social security tax withheld at 6.2%, and Medicare tax withheld...
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