09/02/2011
The Social Security Administration has announced that the taxable wage base for the Social Security portion of FICA will increase to $110,100 in 2012. That’s a 3.1% hike over the 2011 wage base of $106,800. The tax rate for the employee portion of payroll taxes stands at 4.2% … at least through Feb. 29.
09/01/2011
The Fair Labor Standards Act grants many rights to workers, including the right to overtime pay for working more than 40 hours in a workweek. It does not, however, prevent employers from lowering hourly wages if they choose to do so.