Ace Payroll Blog
Oct 28 2014
By: Alan Klein
Posted in: Payroll Industry
Thank you for taking the time to stop in and check out Ace Payroll’s new website and new blog.
It is our goal to use this blog to educate the reader on payroll, payroll tax, technology, and HR matters.
One of the recent announcements from the IRS that you should be aware of is the social security base for 2015 which is increasing to $118,500. If you max out on social security wages this will translate to a total social security withholding of $7347 for the year.
Another recent announcement is the retirement plan contribution limits for 2015. 401k withholding limits are increasing from $17,500 to $18,000 and 401k catch up contribution limits are increasing from $5,500 to $6,000. Simple contributions limits are increasing to $12,500 and simple catch up limits are increasing to $3,000.
We encourage you, the reader of our blogs to inform us of topics you would like to see us write about.
Again, thank you for visting with Ace Payroll Services.
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