{"id":2054,"date":"2014-12-03T16:39:16","date_gmt":"2014-12-03T16:39:16","guid":{"rendered":"http:\/\/www.hr-softwareblog.com\/?p=2054"},"modified":"2014-12-03T22:01:36","modified_gmt":"2014-12-03T22:01:36","slug":"6-adjustments-2015-payroll-taxes","status":"publish","type":"post","link":"https:\/\/www.comparehris.com\/blog\/6-adjustments-2015-payroll-taxes\/","title":{"rendered":"6 Adjustments you need to know about your 2015 Payroll Taxes"},"content":{"rendered":"

\"payroll<\/a>Whether or not you prepare your business\u2019s payroll taxes, you\u2019ll want to know what\u2019s in store for next year. New changes affect payroll administration, employees, and employer. Here are at least six things you’ll need to know about 2015 payroll taxes.<\/p>\n

1.\u00a0 High Paid Employees<\/strong><\/p>\n

The maximum taxable amount of earnings subject to Social Security withholding will jump to $118,000. You should notify these employees of the change affecting their take-home pay well before the January 1 start.<\/p>\n

2.\u00a0 Withholding Rates Unchanged<\/strong><\/p>\n

Employer and employee will continue to pay 6.2 percent up to the new maximum towards the Social Security piece of FICA. That is a combined 12.4 percent on income up to the new maximum of $118,000. That is a maximum of\u00a0 $7,347 on the part of each the employer and employee.<\/p>\n

3.\u00a0 Medicare contribution<\/strong><\/p>\n

Employer and employee will each continue to pay 1.45 percent for the Medicare portion of the FICA deductions, a combined 2.9 percent. All wages \u2013 salary and bonuses \u2013 are subject to Medicare withholding. There is no maximum limit.<\/p>\n

4.\u00a0 Additional Medicare Tax<\/strong><\/p>\n

The Affordable Care Act pinches the high earners for a larger Medicare deduction. Those employees will pay an additional 0.9 percent as an Additional Medicare Tax on earnings above the statutory threshold:<\/p>\n