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2022 Payroll and Employee Benefit Plan Dollar Limits

Each year, the government updates certain dollar limits for inflation. Here are the new numbers for 2022 along with some explanatory information: Payroll Taxes The Social Security Taxable Wage Base has increased to $147,000. Both employees and employers contribute to…

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Tax Instructions

Important Tax Figures for 2021

The following table provides some important federal tax information for 2021, as compared with 2020. Some of the dollar amounts are unchanged and some changed only slightly due to inflation. Social Security/Medicare 2021 2020 Social Security Tax Wage Base $142,800 $137,700…

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