Description | 2022 | 2021 | 2020 |
---|---|---|---|
Social Security | |||
Taxable Wages | $147,000 | $142,800 | $137,700 |
Maximum Tax | $9,114.80 | $8,853.60 | $8,537.40 |
Retirement Plans | |||
Compensation Limit | $305,000 | $290,000 | $285,000 |
Deferral Limit | $20,500 | $19,500 | $19,500 |
Catch-Up | $6,500 | $6,500 | $6,500 |
Holiday | Dates |
---|---|
New Year's Day | Friday, January 1 |
Memorial Day | Monday, May 31 |
Independence Day | Monday, July 5 |
Labor Day | Monday, September 6 |
Thanksgiving Day | Thursday, November 25 |
Day After Thanksgiving | Friday, November 26 |
Christmas Holiday | Friday, December 24 |
New Year's Day | Friday, December 31 |
Holiday | Dates |
---|---|
New Year's Day | Friday, December 31 (2021) |
Memorial Day | Monday, May 30 |
Juneteenth | Monday, June 20 |
Independence Day | Monday, July 4 |
Labor Day | Monday, September 5 |
Thanksgiving Day | Thursday, November 24 |
Day After Thanksgiving | Friday, November 25 |
Christmas Holiday | Monday, December 26 |
Minimum wage rates very across the country, many states, counties, and cities have specifi rules regarding the minimum wage in their jurisdiction - below are some resources to help determine the rate in your the Department of Labor’s website at www.dol.gov/agencies/whd/state/minimum-wage/tipped.
On July 1, 2021, the Chicago City Council raised the minimum wage $1 from $14.00 per hour to $15.00 per hour for large employers with 21 or more employees and to $14/hour for small employers (4-20 employees). More information can be found at: Chicago Labor Standards.