As we near 2025, the Social Security wage base is set to change. The Social Security Administration has revealed that the wage base for calculating Social Security tax will rise to $176,100 in 2025 (up from $168,600 in 2024). Earnings and self-employment income above this threshold won’t be subject to Social Security tax. For businesses
Tag: social security
Tax Limits for Businesses Increase for 2023
A number of tax limits that affect businesses are annually indexed for inflation, and many have increased for 2022.
What to do if your Business Receives a “No-Match” Letter
Many businesses and employers have received “no-match” letters from the Social Security Administration (SSA) alerting them to a discrepancy on W-2 forms.