SS With holding

Payroll Newbie · #1 Mar 10, 2008, 10:20 AM

Greetings all,

I have an employee who is currently having Social Security withheld from his semi monthly paycheck. He will reach the SS limit ($6324) in June 2008 at the current rate of withholding. Is it possible to have the $6324.00 spread over 12 months?

fhoss3634 · Apr 6, 2008, 03:27 PM

No, you can not spread it out. You are taxed on the first 102,000.00 you make.
Also, if you change jobs the social security tax starts over. If you over pay due to changing jobs, you can claim a credit on your 1040.



At Ask Me Help Desk you can ask questions in any topic and have them answered for free by our experts. To ask questions or participate in answering them you must register for a free account. By registering you will be able to: Get free answers from experts in any of our 300+ topics. Accept money for answers that you provide. Communicate privately with other members (PM). See fewer ads. Sign Up!