August 4, 2020
The $46,154 cap is based on the 24-week payroll for each person. Does the cap of $100,000 still apply for the year?
Posted by Armanino Financial Advisory Team
Yes. That’s how the cap was arrived at in the first place — it’s not a randomly generated number. They are one and the same. $46,154 = ($100,000 / 52 weeks) x 24 weeks.