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    Payroll Newbie's Avatar
    Payroll Newbie Posts: 1, Reputation: 1
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    #1

    Mar 10, 2008, 11:20 AM
    SS With holding
    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's Avatar
    fhoss3634 Posts: 17, Reputation: 1
    New Member
    		  
    #2

    Apr 6, 2008, 04:27 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.
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