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Daily Archives: November 1, 2022

Employers: In 2023, the Social Security wage base is going up

For Business, TaxBy NBZ StaffNovember 1, 2022

The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $160,200 for 2023 (up from $147,000 for 2022). Wages and self-employment income above this threshold aren’t subject to Social Security tax. Basics about Social Security The Federal Insurance Contributions Act (FICA) imposes two taxes on employers, employees…

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