social security « The Payroll Department

OASDI Annual Payroll Limitation Increased for 2014

Posted by Elaine on February 11, 2014

Do you know what has risen every year except three since 1971? The Social Security’s Old-Age, Survivors and Disability Insurance (OASDI) program contribution and benefit base. In every day terms, it’s the amount of an individual’s income that is taxable for Social Security. For 2014, that limit is now $117,000. (more…)

Tags: Annual rate for social security, HI, Indiana, Medicare Hospital Insurance, OASDI, Old-Age, payroll deductions, payroll service, small business and payroll taxes, social security, Survivors and Disability Insurance, The Payroll Department

Posted in: Payroll, Payroll Processing, Payroll Taxes, Rules, Regulations and Laws