FICA Max increases to $118,500 for 2015

October 30, 2014 by OSYB Staff

The Social Security Administration has announced that the maximum earnings subject to the 6.2% FICA tax rises to $118,500 for 2015.  It has been $117,000 for 2014.   That same cap applies to the 12.4% retirement portion of self-employment tax. The maximum FICA withholding for 2015 will be $7,347.00, up from $7254.00.