Social Security

Social Security - Withholding Maximum

Answer:

For the current year, wages up to $113,700 are subject to Social Security tax and the maximum Social Security withholding would be $7,049.40.
Employers should withhold Social Security taxes (6.2 percent) from employee's wages up to $113,700 and withhold Medicare tax (1.45 percent) on all wages.
For 2014, wages up to $117,000 are subject to Social Security tax and the maximum Social Security withholding would be $7,254.
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