Spider Meaning. Spider spirit animal is the enchantress of creativity and artistic expression, she weaves a magical spell as she infuses her dreams into the web she weaves. In ritual she builds her web is creative expression and expectation of all she needs and desires.
Social Security tax is one part of the Federal Insurance Contribution Act (FICA) tax, and it is assessed at a rate of 12.4%. This is split evenly between the employee and employer, and it applies to earned income up to $118,500 for 2016 -- resulting in a maximum Social Security tax of $14,694. The remainder of FICA tax goes to Medicare.
The salary threshold was $23,660. But, in May 2016, the DOL overtime rule set the new FLSA salary threshold at $47,476. Employees who were previously exempt might now be nonexempt. If you need to reclassify currently exempt employees, you will need to find ways to comply with the DOLâs new salary overtime law.