Social Security Tax Rate Change in 2011

If you were considering not buying that tax table update for 2011, you may need to reconsider. The Social Security rate for EMPLOYEES ONLY has been reduced from 6.2% to 4.2% for 2011. Basically, Congress gave us all a 2% increase in salary.
Note that the Medicare rate will still be 1.45, making the total 5.65 rather than 7.65. Also, we’ve already gotten calls from clients who noticed that they can’t double the employee portion any more!
Call us for more help!