Social Security Rates & Limits Set for 2019
December 31, 2018
According to the Journal of Accountancy, “The Social Security Administration announced that the maximum amount of wages subject to the old age, survivors, and disability insurance (OASDI) tax will increase to $132,900 for 2019. The OASDI tax rate is 6.2% so an employee with wages up to or above the maximum in 2019 would pay $8,239.80 in tax and the employer would pay the equal amount.”