Here are seven upcoming 2020 payroll changes you should familiarize yourself with before the year comes to a close—and going into the new year.

Social Security wage baseAnother payroll change is one that is subject to change annually, and that’s the Social Security wage base.

The Social Security wage base determines when you stop withholding and contributing Social Security taxes for an employee.

If you have some high-earning employees, you’ll withhold and contribute Social Security taxes until they earn $137,700.

That means the maximum amount you’ll withhold for Social Security tax is $8,537.40 per employee. | To read full story, visit https://startuparound.com/read/1576350007.1799426/7-Big-Changes-That-Could-Impact-the-Way-You-Do-Payroll-This-Year?ref=audio_experience