Big Increase for 2017 Payroll Taxes while Social Security Benefits, Not So Much
The maximum earnings subject to the Social Security* payroll tax will increase by $8,700 in 2017 to $127,200 —up from $118,500. The Jan 1 adjustment is based on the government’s estimate of real wage growth. The 2017 increase in the taxable-earnings cap is the largest one-year increase since 1983. Monthly Social Security benefits will increase a […]