The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $147,000 for 2022 (up from $142,800 for 2021). Wages and self-employment income above this threshold aren’t subject to Social Security tax. Background information The Federal Insurance Contributions Act (FICA) imposes two taxes on employers, employees and self-employed
Social Security Wage Base Archives - Crawford Ellenbogen
Nov 17, 2021
Employers: The Social Security wage base is increasing in 2022
- By Victor Dozzi
- Business
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Feb 18, 2021
2021 individual taxes: Answers to your questions about limits
- By Victor Dozzi
- Taxes
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Many people are more concerned about their 2020 tax bills right now than they are about their 2021 tax situations. That’s understandable because your 2020 individual tax return is due to be filed in less than three months (unless you file an extension). However, it’s a good idea to acquaint yourself with tax amounts that