Social Security Tax Set to Increase in 2013
► The employee withholding rate of 4.2% is set to return to 6.2% in 2013
► The employer rate has remained at 6.2%
► The Social Security Administration estimates that the wage base will increase from $110,100 to $113,700
► The estimated annual maximum employee tax could increase by $2,425.20 ($4,624.20 vs. $7,049.40)
► The employer rate has remained at 6.2%
► The Social Security Administration estimates that the wage base will increase from $110,100 to $113,700
► The estimated annual maximum employee tax could increase by $2,425.20 ($4,624.20 vs. $7,049.40)