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    mensajera's Avatar
    mensajera Posts: 1, Reputation: 1
    New Member
     
    #1

    May 29, 2008, 02:29 PM
    Social security
    Not sure how much to withhold in social security if the rate is 6% on the first 100,000 and they earned 105,856? If they earned less than 100,000 I can do it.
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
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    #2

    May 29, 2008, 11:03 PM
    $5856 has gone over the limit and no longer gets taxed. If this is being figured for the entire year, you figure it on the $100,000 as that's the limit subject to the tax. If you're figuring it on an individual paycheck, I cannot tell you because I don't know how much the paycheck is. If it's under $5856 -- that is, if they hit that limit prior to this pay period -- then nothing is withheld because it's already over the limit. If the current pay is over $5856, you need to know what prior year-to-date was and figure out how much is left that is subject to S.S. i.e. if prior year-to-date was 99,900, then 100 is still subject to the tax.

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