The Social Security wage base rises next year to $137,700, this is a $4,800 hike.

The Social Security tax rate on employers and employees stays pat at 6.2%. Both will continue to pay the 1.45% Medicare tax on all compensation, with no cap. Individuals also pay the 0.9% Medicare surtax on wages and self-employment income over $200,000 for singles and $250,000 for couples.

The surtax doesn’t hit employers.

The nanny tax threshold goes up next year to $2,200, up $100 from 2019.

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