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Tax Tip: (November 29, 2011) Social Security Wage Base The Social Security Wage Base for 2012 will jump to $110,000, a $3,300 increase over this year's figure and the first increase since 2009. For 2011, the rate on employees was reduced to 4.2% from 6.2%. We think that Congress will extend this break for 2012 and possibly expand the reduction to 3.1% for employees AND employers; however, this is still up in the air. Contact Us or call today: 303.232.8300 ............................................................................................................. Let Accounting & Tax Solutions, Inc. help you navigate through the many regulations and nuances of the tax laws, to ensure that you receive the expert advice of a licensed tax practitioner: Contact Form
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