2018 taxable wage base reduced

the folks in Washington reduced the 2016 avg wage from

48664.73 to 48642.15. just $22 dollars but that was enough to change the TWB. previously the divide by 300 was 428.60 which rounded up to 429.

the calculation is as follows

Thanks Tom. And after we had already sent the letter to all our clients updating the 2018 limits. Sigh...

Oh. My. God. We sent out over 1,000 emails.

1 hour ago, austin3515 said:

Oh. My. God. We sent out over 1,000 emails.

What did those emails say?  Did they include a 2018 covered compensation table?

Do you have an active role in your clients' payroll systems?  Does it really matter if your clients go on thinking the TWB is $128,700 for a bit longer?

Did you send the emails en masse or one at a time?  If the former, how hard would it be to slap down a couple of sentences saying why you are writing again, fix the information and just send them again? 

How many clients do you have?

Sorry, I am still trying to get over the fact that the government didn't get this right the first time.

At least you can take some comfort in not having to run out and buy 1,000+ "forever" stamps!

My communication was something like what My 2 cents describes.  I used the same blast lists I had used for my mid-October e-mail.  I quoted the SSA's announcement about its reason for its adjustment.  Several clients thanked me.

We use constant contact so obviously we'll be re-sending (it's easy enough to do).  And I had not yet celebrated the fact that we didn't mail them out on paper, but I certainly am now!

Austin - just tell 'em the Grinch and Dr. Evil combined on this effort to confuse everyone.

I looked to see how the change effected me and my projected soc sec for 2017 dropped almost $1 / month on my worksheet. Dr. Evil ran the numbers and said if there are 1 million people out there like me that would be

$1 million dollars

You know, that;s not exactly a lot of money these days.

26 minutes ago, austin3515 said:

You know, that;s not exactly a lot of money these days.

To the government, no. To most of us, yes! 

It's a lot of money to Dr. Evil too.  That's what happens when you are cryogenically frozen for decades at a time!