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.
Category: News