Compliance is very important to us!
That’s why we created a 2015 version of our Tax and Limits Quick Help – your ultimate 2015 guide to payroll taxes, contribution limits, minimum wage and more! There are also a few items on this infographic that we’d like to highlight, including CA minimum wage increase, the additional Medicare taxes on high wage earners and the limits on employee contributions to health-related savings accounts.
SDI Rate Decreased, Wage Limit Increased
For the first time in years, the SDI rate decreased while the wage limit increased. The SDI rate decreased from 1% to 0.9% and the wage limit increased from $101,636 to $104,378.
Health Savings Employee Deferrals and Contributions Maximums for 2015
Employee contributions maximums for flexible spending accounts stay the same as 2014 but health savings accounts increase slightly. Individual HSAs increase by $50 to $3,350 and family HSAs increase by $100 to $6,650.
Looking for More?
PAYDAY Workforce Solutions can help you understand 2015 payroll taxes and can provide other payroll-related assistance. Trust us to help you with 401(k) plans, employee benefits, background checks, time and attendance, workers compensation, Federal and state tax credits, benefits administration, HRIS and unemployment claims management. Give us a call or send us a note – we’d be happy to talk with you!