New Social Security Wage Base (2018) Announced

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New Social Security Wage Base (2018) Announced

The Social Security Administration (SSA) announced that the Social Security wage base is increasing in 2018, but not by much. It says the 6.2% Social Security tax will apply to $128,700 of wages in 2018, up from $127,200 in 2017. That’s an increase of slightly more than 1% as compared with the increase of more than 7% the prior year. The 1.45% HI (Hospital Insurance) tax still applies to all wages.

By | 2018-02-19T17:26:13+00:00 February 9th, 2018|Individual Tax, News & Events, Payroll & Bookkeeping|0 Comments

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