{"id":13231,"date":"2021-01-19T15:35:43","date_gmt":"2021-01-19T20:35:43","guid":{"rendered":"http:\/\/blogs.cooperhealth.org\/weeklyrounds\/?p=13231"},"modified":"2021-01-19T15:35:43","modified_gmt":"2021-01-19T20:35:43","slug":"changes-to-2021-tax-rules","status":"publish","type":"post","link":"https:\/\/blogs.cooperhealth.org\/weeklyrounds\/2021\/01\/changes-to-2021-tax-rules\/","title":{"rendered":"Changes to 2021 Tax Rules"},"content":{"rendered":"<p>The 2021 tax rates were recently announced. These are the rates for many of the Federal and State deductions in your paycheck. The 2021 tax rates are as follows:<\/p>\n<p>The Social Security tax rate for employees is 6.2% through the end of 2021, with maximum taxable earnings of $142,800. (Source: Social Security Administration website.)<\/p>\n<p>The Medicare tax rate is 1.45% with no maximum wage-base limit.<\/p>\n<p>Please note that as of 2013, wages paid in excess of $200,000 to high-earner employees will be subject to an extra 0.9% Medicare tax that will be withheld from those employees\u2019 wages.<\/p>\n<p>Major changes in NJ Disability and Family Leave contributions for 2021 include:<\/p>\n<ul>\n<li>NJ Disability and Family Leave wage limit is increasing to 138,200 (from $134,900 in 2020).<\/li>\n<li>NJ Employee Disability rate will increase from .0026% to .0047%.*<\/li>\n<li>NJ Family Leave Act rate will increase from .0016% to .0028%.*<\/li>\n<li>NJ Unemployment wages will increase from $35,300 to $36,200. Rates will remain the same.<\/li>\n<li>PA State Personal Income Tax rate is 3.07%.<\/li>\n<li>PA State Unemployment Tax rate is .0006% on all wages.<\/li>\n<li>City of Philadelphia Wage Tax rate is 3.8712% for Philadelphia residents.<\/li>\n<\/ul>\n<p>(*Rate changes will be effective with the January 22, 2021, paycheck. There will be a slight catch-up deduction from the first paycheck.)<\/p>\n<p>Additional payroll tax information can be found on the Pulse under Departments\/Finance\/Payroll.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 2021 tax rates were recently announced. These are the rates for many of the Federal and State deductions in your paycheck. The 2021 tax rates are as follows: The Social Security tax rate for employees is 6.2% through the end of 2021, with maximum taxable earnings of $142,800. (Source: Social Security Administration website.) The &#8230; <span class=\"more\"><a class=\"more-link\" href=\"https:\/\/blogs.cooperhealth.org\/weeklyrounds\/2021\/01\/changes-to-2021-tax-rules\/\">[Read more&#8230;]<\/a><\/span><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[5559,1,5553],"tags":[],"class_list":{"0":"entry","1":"post","2":"publish","3":"author-ddevenney","4":"post-13231","6":"format-standard","7":"category-announcements","8":"category-uncategorized","9":"category-tips-information"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Changes to 2021 Tax Rules - Weekly Rounds<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Changes to 2021 Tax Rules - Weekly Rounds\" \/>\n<meta property=\"og:description\" content=\"The 2021 tax rates were recently announced. These are the rates for many of the Federal and State deductions in your paycheck. The 2021 tax rates are as follows: The Social Security tax rate for employees is 6.2% through the end of 2021, with maximum taxable earnings of $142,800. (Source: Social Security Administration website.) The ... 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