When you pay for a Shopify plan you also receive reliable and unlimited web hosting. This is a huge plus, since it can save you over $100 per year. The fast servers have around a 99.94% uptime, and the unlimited email forwarding gives every person in your organization an email address with your domain name in it.
The 2017 Social Security wage base increased by $8,700. The wage base in 2017 is $127,200. The 2016 Social Security wage base was $118,500. The Social Security wage base has increased in four of the last five years.
For higher incomes, the bulk of the self-employment tax that goes to support Social Security caps out, but you always pay the 2.9 percent portion for Medicare, no matter how much you earn. You can see what a rude awakening this tax is for many folks who jump ship from the corporate world. Go back on the payroll.