Social Security wage base increases in 2012
For the first time since 2009, the wage base used to determine the Social Security portion of FICA and self-employment tax will rise. The wage base for 2012 will be $110,100 (up from $106,800 in 2009-2011).
The tax rate is set to revert to 6.2% for employees (and the employee portion of self-employment tax) unless Congress extends it; the rate had been 4.2% in 2011.
No comments:
Post a Comment