Need a little help

[NumbersOfFortune]

Okay so the employer portion of social security in April 2024 went from 6.2% to 6.5% and then it reverted back to 6.2% in January 2025. My question is should i accrue using 6.2% for a bonus earned in 2024 but paid in 2025? And for healthcare benefits provided in 2024 should I apply a blended rate or just use 6.2%? Thanks a lot for any advise

 

[Elliott.sam]

You should use the 6.5% rate since that's when the wages were earned and for healthcare benefits tied to 2024, apply the 6.5% as well, don't blend the rates.

 

[Kurt Zamo]

I'm just circling back on this thread in case you still need clarification. The tax rate for Social Security is always based on the actual date of payment not the period when the wages were earned. So for a bonus paid in 2025 you would use the 2025 rate which you can verify in IRS Publication 15.