Social Security Payroll Wage Base Announced
Payroll departments take note, it has been announced that the Social Security wage base (the maximum amount of wages subject to the tax) for 2013 will increase to $113,700 from $110,100 in 2012, a 3.3% increase. This increase will result in those employees earning $113,700 or more paying $7,049 in social security taxes with employers [...]