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Social Security wage base is projected to increase to $130,500 for 2018. The Soc…


Social Security wage base is projected to increase to $130,500 for 2018. The Social Security Administration’s Office of the Chief Actuary has projected that, under all three of its methods of forecasting, the Social Security wage base will increase from $127,200 for 2017 to $130,500 for 2018. The Federal Insurance Contributions Act (FICA) imposes two taxes on employers, employees, and self-employed workers, commonly known as Social Security tax and Medicare tax. There is a maximum amount of compensation subject to the first tax, but no maximum for the latter.



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