Social Security Wage Base: Increase for 2020
| Description | 2020 | 2019 | Increase |
| Social Security Rate | 6.2% | 6.2% | -0- |
| Social Security Wage Base | $137,700 | $132,900 | $4,800 |
| Max. Social Security Tax | $8,537.40 | $8,239.80 | $297.60 |
| Medicare Tax Rate | 1.45% | 1.45% | -0- |
|
Medicare Tax Rate (Wages > $200,000) | 2.35% | 2.35% | -0- |
| Medicare Wage Base | No Limit | No Limit | N/A |
Source:
https://www.ssa.gov/policy/docs/quickfacts/prog_highlights/index.html