{"id":212,"date":"2019-10-15T15:08:20","date_gmt":"2019-10-15T15:08:20","guid":{"rendered":"http:\/\/www.weissthompson.com\/blog\/?p=212"},"modified":"2019-10-15T15:08:20","modified_gmt":"2019-10-15T15:08:20","slug":"five-minute-tax-briefing-2","status":"publish","type":"post","link":"https:\/\/www.weissthompson.com\/blog\/index.php\/2019\/10\/15\/five-minute-tax-briefing-2\/","title":{"rendered":"FIVE MINUTE TAX BRIEFING"},"content":{"rendered":"

\"PPC\"<\/p>\n

Five-Minute Tax Briefing\u00ae<\/sup>
\nOctober 22, 2019
\nNo. 2019-20<\/b><\/h1>\n

<\/center><\/p>\n

\"\"<\/h4>\n

Social Security Wage Base Increases for 2020:<\/b>\u00a0\u00a0The Social Security Administration (SSA) has announced that the maximum earnings subject to the Social Security component of the FICA tax will increase from $132,900 to $137,700 for 2020. This means that for 2020, the maximum Social Security tax that employers and employees will each pay is $8,537.40 ($137,700 x 6.2%). A self-employed person with at least $137,700 in net self-employment earnings will pay $17,074.80 ($137,700 x 12.4%) for the Social Security part of the self-employment tax. The Medicare component remains 1.45% of all earnings, and individuals with earned income of more than $200,000 ($250,000 for married couples filing jointly, $125,000 for married filing separately) will pay an additional 0.9% in Medicare taxes. Other 2020 cost-of-living adjustments announced by the SSA are available at\u00a0www.ssa.gov\/policy\/docs\/quickfacts\/prog_highlights\/RatesLimits2020.html<\/a>\u00a0. SSA Release 10\/10\/19.<\/p>\n","protected":false},"excerpt":{"rendered":"

Five-Minute Tax Briefing\u00ae October 22, 2019 No. 2019-20 Social Security Wage Base Increases for 2020:\u00a0\u00a0The Social Security Administration (SSA) has announced that the maximum earnings subject to the Social Security component of the FICA tax will increase from $132,900 to $137,700 for 2020. This means that for 2020, the maximum Social Security tax that employers … <\/p>\n

Continue reading “FIVE MINUTE TAX BRIEFING”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-212","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.weissthompson.com\/blog\/index.php\/wp-json\/wp\/v2\/posts\/212","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.weissthompson.com\/blog\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.weissthompson.com\/blog\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.weissthompson.com\/blog\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.weissthompson.com\/blog\/index.php\/wp-json\/wp\/v2\/comments?post=212"}],"version-history":[{"count":1,"href":"https:\/\/www.weissthompson.com\/blog\/index.php\/wp-json\/wp\/v2\/posts\/212\/revisions"}],"predecessor-version":[{"id":213,"href":"https:\/\/www.weissthompson.com\/blog\/index.php\/wp-json\/wp\/v2\/posts\/212\/revisions\/213"}],"wp:attachment":[{"href":"https:\/\/www.weissthompson.com\/blog\/index.php\/wp-json\/wp\/v2\/media?parent=212"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.weissthompson.com\/blog\/index.php\/wp-json\/wp\/v2\/categories?post=212"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.weissthompson.com\/blog\/index.php\/wp-json\/wp\/v2\/tags?post=212"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}