Here are the 2025 updates for Social Security, Medicare, and MA PFML taxes:
• 6.2% Social Security tax on the first $176,100 of wages (6.2% × $176,100 makes the maximum tax $10,918.20).
• 1.45% Medicare tax on the first $200,000 of wages.
• 2.35% Medicare tax (regular 1.45% Medicare tax plus 0.9% additional Medicare tax) on all wages in excess of $200,000.
• The MA PFML employee rate is .046 of eligible wages.
Here are the 2025 limits for 401K, Simple IRA, and HSA plans:
• HSA contribution limited $4,300 for an individual, $8,550 for a family. Over age 55 you have a $1,000 catchup allowance.
• Simple IRA $16,500 contribution limit. Catchup is $3,500 if you are age 50-59, or $5,250 if you are age 60-63.
• 401K $23,500 contribution limit, If you are over age 50, the catchup is $7,000.
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