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Tax Implications Associated with 2017 Limits
The modest Social Security benefit increase recently announced has other implications for those still in the workforce, the most significant of which is the $8,700 increase in the ceiling for FICA tax. And there’s the additional 2.35% Health Insurance tax applied to filers with wages above $200,000 and joint filers above $250,000. In an article posted on www.cpapracticeadvisor.com, Ken Berry, J.D. provides some background on taxation issues in the year ahead. Read more…
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