While Congress didn’t pass the Build Back Better Act in 2021, there are still tax changes that may affect your tax situation for this year. That’s because some tax figures […]
Category: FICA
Businesses With Employees Who Receive Tips May Be Eligible For A Tax Credit
If you’re an employer with a business where tipping is customary for providing food and beverages, you may qualify for a federal tax credit involving the Social Security and Medicare […]
Employers: The Social Security Wage Base Is Increasing In 2022
The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $147,000 for 2022 (up from $142,800 for 2021). Wages and self-employment income […]
The 2021 “Social Security Wage Base” Is Increasing
If your small business is planning for payroll next year, be aware that the “Social Security wage base” is increasing. The Social Security Administration recently announced that the maximum earnings […]