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Gross Mendelsohn Blog

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Dawn Ebeling

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Construction & Real Estate  |  Government Contractors  |  Healthcare  |  Manufacturing & Distribution  |  Nonprofit  |  Service Businesses

2023 Payroll Update

Social Security & Medicare Tax As of January 1, 2023, the maximum amount of annual earnings subject to the Social Security increases to $160,200 (from $147,000 in 2022). There is no limit on the amount of earnings subject to the Medicare tax. The maximum Social Security tax to be deducted from an employee’s compensation during 2023 will be $9,932.40 (6.2% x $160,200).

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Construction & Real Estate  |  Government Contractors  |  Healthcare  |  Manufacturing & Distribution  |  Nonprofit  |  Service Businesses

Businesses Must Use New Form W-4 Starting January 1, 2020

The long awaited new Form W-4 is finally here. Here’s the rundown on the new form, which businesses must start using for new employees hired on or after January 1, 2020.

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