Employers: In 2023, the Social Security Wage Base Is Going Up

The Social Security Administration recently announced that the Social Security wage base tax will increase to $160,200 for 2023 (up from $147,000 for 2022). Wages and self-employment income above this threshold aren’t subject to Social Security tax. Basics About Social Security The Federal Insurance Contributions Act (FICA) imposes two taxes on employers, employees and self-employed … Continue reading “Employers: In 2023, the Social Security Wage Base Is Going Up”