consulting and training) under the same contract for the purposes of customizing the. product, or product roll-out and implementation, the agency may be able to purchase. those services up to 20% of the value of the product and first year's maintenance.
The Social Security tax is a flat tax rate of 6.2 percent on your wage income up to $118,500 as of 2017. Any wages you earn over $118,500 aren't subject to the Social Security tax, so the figure shown in Box 4 should be no more than $7,347.00, the $118,500 maximum wage base times 6.2 percent.
Until now, the Social Security wage base has increased in each of the last four years. Social security taxes, (or OASDI taxes) are the taxes that are taken from your paycheck to contribute to the social security program. However, there is a wage base limit, and earnings above this amount are not taxed. The social security tax wage bases are per person, and are not impacted by a husband and wife who meet the wage base when adding their incomes together. Any earnings over the tax wage base are not subject to social security taxes.