The Social Security Administration (SSA) has set the 2019 Social Security taxable wage threshold to $132,900.00. The increase in the SSA Wage from 2018 is $4500.00 which equates to a potential annual tax increase of $344.25 ($4500.00 x 7.65%) for taxpayers that reach or exceed taxable wages of $132,900.00 in 2019. There continues to be no wage threshold on Medicare taxes. Medicare tax continues at a rate of 1.45% in 2019 on all taxable wages. As always the employer with continue matching the Social Security and Medicare taxes withheld from their employees.

If you have not set up your personal account with the Social Security Administration you should do so as soon as possible. By registering your account you prevent someone else from fraudulently registering in your name. That may jeopardize your benefits when you become eligible to receive them. To register go to this web link https://secure.ssa.gov/RIL/SiView.action