2017 Pay Roll & Mileage Rates

2017 Payroll & Mileage Rates
A few rates relating to payroll and mileage have changed since last year. Here is a list of updated rates to keep you and your employees in the loop!



Payroll rates and bases

Employee Social Security - 6.20%
Employer Social Security - 6.20%
Employee Medicare - 1.45%*
Employer Medicare - 1.45%
Social Security wage limit - $127,200
Medicare wage limit* - Unlimited
FUTA-tax wage base - $7000
FUTA rate - 6.0%
FUTA maximum credit - 5.4%
Min. FUTA deposit rate (most firms) - 0.6%

*Withhold added Medicare tax of .9% on wages over 200,000

Standard business mileage rate - 53.5¢/mi



Got a Quickbooks Mess? Call the Quickbooks Gal!



Comments

Popular posts from this blog

QuickBooks Password Protection

How to "Un" Apply Credits In QuickBooks

Employee Salary/Wage Rate Report