The Social Security Administration has announced that the wage base for computing Social Security tax will be $113,700 for 2013 (an increase from $110,100 in 2012). Additionally, cost-of-living adjustment (COLA) increases have been released for Social Security benefits. SS Wage Base Increases for 2013 The Social Security Wage Base is the maximum amount of wages (or...
Read MoreMany key federal tax rules affecting individuals will “sunset” at the end of 2012 unless Congress acts otherwise to extend or permanently enact those provisions. As year-end is approaching quickly, it is wise to be aware of what to expect in 2013, absentfurther legislation. Key tax law changes affecting individuals beginning in 2013 if prior laws’ sunsets go into...
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