The 2015 Social Security Taxable Wage Base

social security taxable wage base

The Social Security Administration (SSA) has announced that the 2015 Social Security taxable wage base is increasing to $118,500, up $1,500 from the 2014 taxable wage base of $117,000.  Once an employee reaches this taxable wage threshold no further Social Security tax will be withheld.social security taxable wage base

FICA Tax Rates

The 2015 FICA tax rate for employees will remain at 7.65%. This is the combined rate for Social Security and Medicare. The Social Security portion is 6.2% on earnings up to the taxable wage base of $118,500, and the