Erin is a fourth-year mechanical engineering major who has served in a wide variety of leadership roles, including president of the Society of Women Engineers at UF. She also initiated the first-ever 3D printing outreach day and co-authored a paper published by the American Society for Engineering Education.
The Social Security Administration has announced the 2017 Social Security benefit amounts, and the maximum withholding change for 2017. The maximum taxable earnings for Social Security withholding for 2017 are $127,200. This maximum is up from $118,500 for 2016 and 2015. Medicare withholding has no maximum. The maximum withholding amount is adjusted each year by a formula based on cost of living increases.
Only the social security tax has a wage base limit. The wage base limit is the maximum wage that is subject to the tax for that year. For earnings in 2016, this base is $118,500. Refer to Whatâs New in Publication 15 for the current wage limit for social security wages; or Publication 51 for agricultural employers. There is no wage base limit for Medicare tax.