Social Security Wage Base Increases to $117,000. FOR 2014

Beginning 1/1/2014 the wage base for social security will be $117,000. up from $113700 in 2013.
The tax rate remains the same at 6.2%. Only about 6% of workers hit this threshold. Medicare remains 1.45% of all wages. Any wages in excess of $200,000. pay an additional 0.9%on all wages above the 200k.