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Retirement tax questions
@gfunk1086 wrote:........
For our paychecks we elect, "married but withhold at single rate"?
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.......that particular paycheck setting on your W-4 forms has no effect on your Social Security taxes withheld and shown in box 4 of your W-2. The Social Security tax is a flat 6.2% of box 3 (until it reaches the max $$ amount for the particular tax year involved).
That setting (married but withhold at single rate) only affects W-2, box 2 federal tax withholding for "income" taxes.
____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
‎September 22, 2020
10:13 AM
1,726 Views