Social Security taxable wage base revised for 2018

By on December 6, 2017

The 2018 Social Security wage base increases to $128,400 (up $1,200 from the 2017 wage base). The maximum Social Security tax employees and employers will each pay in 2018 is $7,960.80 ($128,400 x 6.2 percent). The employer’s portion of Medicare tax remains unchanged at 1.45 percent. Wages paid in excess of $200,000 are subject to the 0.9 percent Additional Medicare Tax (1.45 percent + 0.9 percent = 2.35 percent total) and are withheld from only the employee’s wages.

Posted in: Financial Focus
Tagged: