What is the taxable wage limit for Social Security?

What is the taxable wage limit for Social Security?

What is the taxable wage limit for Social Security?

Maximum Taxable Earnings Each Year

Year Amount
2017 $127,200
2018 $128,400
2019 $132,900
2020 $137,700

What is the maximum amount of earnings that are subject to Social Security tax in 2014?

$117,000.00
For 2014, the maximum limit on earnings for withholding of Social Security (Old-Age, Survivors, and Disability Insurance) Tax is $117,000.00. The maximum limit is changed from last year. The Social Security Tax Rate remains at 6.2 percent. The resulting maximum Social Security Tax for 2014 is $7,254.00.

Is there a wage limit for Social Security?

Refer to “What’s New” in Publication 15 for the current wage limit for social security wages; or Publication 51 for agricultural employers. There’s no wage base limit for Medicare tax. All covered wages are subject to Medicare tax.

Is there a wage limit for Social Security in 2021?

For earnings in 2021, this base is $142,800. Refer to “What’s New” in Publication 15 for the current wage limit for social security wages; or Publication 51 for agricultural employers. There’s no wage base limit for Medicare tax. All covered wages are subject to Medicare tax.

What are the maximum taxable earnings for Social Security?

Listed below are the maximum taxable earnings for Social Security by year from 1937 to the present. Loading… Be the first to like this.

What was the cost of living increase for Social Security in 2013?

Cost-of-Living Adjustment (COLA): Based on the increase in the Consumer Price Index (CPI-W) from the third quarter of 2011 through the third quarter of 2012, Social Security and Supplemental Security Income (SSI) beneficiaries will receive a 1.7 percent COLA for 2013. Other important 2013 Social Security information is as follows: