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Payroll Tax Update for 2016

December 7, 2015 News Articles

The Social Security Administration (SSA) announced that the maximum earnings subject to the Social Security component of the FICA tax will remain at $118,500 for 2016. This means that for 2016, the maximum Social Security tax that employers and employees will each pay is $7,347 ($118,500 x 6.2%).

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I have known the principals of the firm for nearly eighteen years, and through the course of that time have witnessed their professionalism in many different business venues. The firm and its members have been most supportive of the community of which they are a part and have lent their expertise to the enhancement of numerous local organizations and endeavors. I know of many current chamber members who use the firm for their accounting work and I and members of the Board of Directors and Staff are very comfortable in referring clients to the firm. 
JH. Walter Townshend, III, President and CEO, Baltimore Washington Corridor Chamber of Commerce

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